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    Closing Bell: Sensex drops 200 points, Nifty down to 18,200; Maruti Suzuki rises 1%

    Closing Bell: Sensex drops 200 points, Nifty down to 18,200; Maruti Suzuki rises 1%

    Closing Bell: Sensex drops 200 points, Nifty down to 18,200; Maruti Suzuki rises 1%
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    By CNBCTV18.com  IST (Published)

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    Share market closed lower Wednesday, breaking the winning streak of two sessions. Metals and financial stocks bled on the Dalal Street Thursday, dragging the benchmarks down. Sensex rounded up 200 points lower at 61,143 and Nifty lost 57 points to end at 18,210.

    The share market reversed morning gains to end lower Wednesday, breaking a two-day winning streak. Metals and financial stocks bled on the Dalal Street Thursday, dragging the benchmarks down. Regardless, the market breadth favours advances with 5 stocks advancing for four stocks that declined.
    The 30-scrip Sensex rounded up 200 points lower at 61,143 and the Nifty50 index lost 57 points to end at 18,210. The broader markets closed mixed with midcaps closing flat and smallcaps rising 0.3 percent.
    Among the 50 stocks on Nifty, Asian Paints, UPL, Divi's Lab, Cipla, and Infosys led the gains, as each scrip rose over 1.5 to 4 percent. Leading the losses were Axis Bank, Bajaj Finance, ONGC, Tata Motors, Bajaj Finserv.
    Among sectors on NSE, a strong rally was seen in IT, pharma, PSU Bank, realty and healthcare indices, while Nifty Media, metals, financial services, banks closed sharply down.
    Axis Bank and Bajaj Finance are the top losers of the session on NSE after reporting earnings for the September quarter. Maruti Suzuki closed the session with a gain of 1 percent amid volatility after reporting the earnings. Metal stocks also failed to hold the opening gains and slid over 2 percent.
    Asian Paints was the top Nifty gainer as it rose over 4 percent after an announcement of a price hike. UPL also gained over 4 percent after a strong showing by Sharda Corp. Cipla's healthy second-quarter numbers pushed the pharma index higher with Sun Pharma and Divi's Labs closing 1-3 percent higher.
    Globally, A flare-up in the US-China tensions, signs of further regulatory crackdowns from Beijing and a rise in short-dated US Treasury yields doused the equity market rally, offsetting tailwinds from forecast-beating earnings on Wall Street.
    MSCI's global equity benchmark is hovering close to Monday's seven-week high and is on track for the best month in almost a year. However, European stocks softened, led by a 2 percent drop in mining and resource firms.
    The losses started earlier in Asia, where tech stocks suffered hefty falls after China's internet watchdog said it planned stricter registration rules for younger net users. Meanwhile, US futures pointed to gains for Wall Street.
    Gold prices extended losses on Wednesday as expectations that the US Federal Reserve and peers could finally announce the unwinding of economic support served to heap pressure on the metal. Spot gold fell almost half a percent to $1,786.
    With inputs from Reuters
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