Market

Closing Bell: Market ends lower for 3rd day in a row, Nifty below 10,000; financials slip, Bharti Infratel top loser

Updated : June 17, 2020 03:40 PM IST

Indian equity benchmark indices on Wednesday fluctuated between gains and losses to end the trading session lower as financial stocks dragged.

At close, Sensex ended 97.30 points or 0.29 percent lower to 33,507.92 while Nifty50 index ended 36.25 points or 0.37 percent lower to 9,877.75.

Meanwhile, the broader markets outperformed the benchmark indices.

Indian equity benchmark indices on Wednesday fluctuated between gains and losses to end the trading session lower as financial stocks dragged. Investors sentiment remained poor over escalating border tensions between India and China.

At close, Sensex ended 97.30 points or 0.29 percent lower to 33,507.92 while Nifty50 index ended 36.25 points or 0.37 percent lower to 9,877.75.

Meanwhile, the broader markets outperformed the benchmark indices. Nifty Midcap100 index ended the session in green, up 0.06 percent while Nifty Smallcap100 index ended 0.49 percent higher.

Nifty Media remained the best-performing index, up nearly 2 percent while Nifty Financial Services was the worst-performer amongst its peers, down nearly a percent. Banks, metals and FMCG also ended in the red.

Maruti Suzuki, Bharti Airtel, Wipro, Britannia and Axis Bank were the top gainers of the Nifty50 index while the top losers included Bharti Infratel, Kotak Mahindra Bank, ITC, Power Grid and M&M.

The share price of HDFC Asset Management Company declined over 3 percent on Wednesday after its offer for sale (OFS) of up to 60,00,000 equity shares began.

Shares of India Cements rallied over 10 percent on Wednesday on reports that ace investor Radhakisan Damani is likely to buy a controlling stake in the company.

HPCL's shares rebounded from day’s low to trade over 4 percent higher on Wednesday after the company reported its earnings for the fourth quarter of fiscal 2020.

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