The key benchmark indices after declining to the lows of the day, consolidated within a narrrow band in the negative zone for the remainder of the day.
The BSE Sensex touched a high of 58,218 in opening trades, and thereafter slipped to a low of 57,672 – down 546 points from the high’s of the day.
ITC shed 2 per cent at Rs 224, a day after the company’s first-ever institutional investors and analyst meet.
Larsen & Toubro also managed to end in the positive zone for the second straight day, after the company said that its water & effluent treatment business received large contracts , Uttar Pradesh.
The overall breadth, however, remained marginally positive – with 1,715 advancing shares versus 1,618 declining stocks on the BSE.
Paytm tumbled nearly 13 per cent in intraday trades to Rs 1,298 as the mandatory one-month lock-in period for anchor investors expired today.
Among sectoral indices, the BSE Realty index dropped 1.4 per cent, and the IT index slipped 0.9 per cent.
The overall market breadth was positive.
Live market updates: The key benchmark indices continued to hold marginal losses in mid-noon deals on the back of weakness in select IT, FMCG and select financial shares.
Bajaj Finance has shed 2.7 per cent at Rs 6,873.
Patel Engineering, Bajaj Electricals, Vardhaman Textiles, KPR Mills, TCI, EIH Hotel, Vakrangee, KIOCL, Suvidha Infoserv, Pearl Polymers, Nitco Tiles, NACL Industries, Raw Edge Industrial, KCP Sugar, Expleo Solutions and Bhartiya Internatinal were the other major gainers.
Live market updates: The key benchmark indices have recouped some of its losses led by fresh gains select auto and banking shares.
The BSE Sensex had recovered partially from the day’s low of 57,672, and was down 210 points at 57,907.
The overall breadth was fairly positive, with more than 1,800 shares advancing versus 1,350 declining stocks on the BSE.
HP Adhesives IPO was fully subscribed in quick time on Day 1 of the offer on the back of strong retail demand.
After starting with mild gains, the benchmark indices quickly slipped into the negative zone.
On the flipside, Bajaj Finance was the worst hit Sensex counter for a third straight day.
If the Fed turns more hawkish and indicates two rate hikes in 2022, that would be negative for the markets which had factored in one rate hike and faster tapering of the asset purchases.
LIVE market updates: Stock specific action and global cues will dominate the market trend on Wednesday as investors await outcome of the US Federeal Reserve’s policy meeting.
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