The stock market witnessed a sell-off on Wednesday amid weak signals from global markets. In the early trade, the BSE Sensex fell 120 points to 40,505 and the Nifty fell 51 points to trade at 11,888. The Sensex fell more than 200 points during one time trading and saw sellouts especially in stocks like HDFC Bank, ICICI Bank and ITC.
The 30-share BSE index was down 214.94 points or 0.53 percent at 40,410.57 during this period. On the other hand the NSE Nifty fell 77.05 points or 0.65 percent to 11,857.45.
ONGC fell the most by three percent in the Sensex. Apart from this, NTPC, PowerGrid, UltraTech Cement, ITC, HDFC Bank, ICICI Bank and HDFC were also trading in red mark. On the other hand, Tata Steel, Bharti Airtel, HCL Tech, Asian Paints and Bajaj Auto saw a boom.
The market closed with a rise yesterday
Local stock markets closed with a slight gain on Tuesday in volatile trading amid mixed trend of Schwick markets. The Sensex gained 31.71 points to end at 40,625 and the Nifty rose 3.55 points to end at 11,934.50. The stock market opened with a cautious stance on Tuesday, with investors cutting profits at higher levels after a sharp eight trading session. At one time, the BSE Sensex fell 52.78 points to 40,541 and the Nifty fell 13 points to trade at 11,917. According to the stock market data, foreign institutional investors bought shares worth Rs 832.14 crore on a gross basis on Tuesday.