Indian benchmark equity indexes, the BSE Sensex and the NSE Nifty 50, ended sharply lower on Wednesday, dragged by energy giants such as Reliance Industries Ltd and Coal India Ltd.
Although the BSE index hit yet another record high in the opening trade, both indexes soon turned volatile as caution took over the Dalal Street ahead of the expiry of August F&O contracts on Thursday.
Towards the close, indexes dipped sharply with the Sensex shedding over 170 points, pulled lower by Reliance Industries and HDFC twins. Infosys, IndusInd Bank and Coal India too played their part in the downtrend.
SBI, ICICI Bank, ITC and ONGC batted for the bulls but that wasn't enough to offset losses emanating from index heavyweight stocks, well-reflected in the BSE largecap's decline of 0.27 percent. Midcaps on both indexes ended with gains, while sectoral indices were largely weak, barring metal, realty and PSU bank shares.
Here are the stocks that trended the most in the markets today: IndiGo: Shares of InterGlobe Aviation Ltd which owns and runs the airline fell 5.52 percent to close at Rs 969.55. The scrip lost Rs 56.60 in value after opening at Rs 1,028. In general, shares of aviation companies fell as the Indian rupee weekned against the dollar escalating fears of inflation and higher fuel input costs. Jain Irrigation Systems: Shares closed at Rs 82.75, rising by 3.76 percent, after opening at Rs 79.90. The company receiving exporter order of Rs 127 crore from Rwanda. The smallcap scrip has been gaining for the last three days and has risen 9.99 percent in the period. JSW Steel: The scrip hit an over five-year high of 30 million shares, as JSW Steel is set to become a part of Nifty 50 index from September 28. It rose nearly 12 percent today, hitting its lifetime high of Rs 408.70, eventually ending the day at Rs 399, up by 8.97 percent. TTK Prestige: Shares closed at Rs 6,914.75, adding Rs 457.15 in value to the stock, or rising by 7.08 percent. CLSA is upbeat on the stock and has raised price target to Rs 7,725 from Rs 7,010. UPL: Shares of agrochemicals maker UPL Ltd gain as much as 3.65 percent to Rs 678, highest since June 19. It ended the day at Rs 679.55, rising by 3.91 percent, adding Rs 25.60 to the stock's value. Intra-day it touched a high of Rs 684.40. SBI: Among top gainers on Sensex, SBI settled at Rs 309.65, rising by 1.54 percent after the public sector lender received approval to initiate the sale of up to 3.9 percent of its stake in NSE. Cadila Healthcare: The pharma scrip declined by 2.45 percent to end at Rs 386.75. It opened at Rs 396 and rose to a high of Rs 399 but fell on reports that the US FDA has issued five observations to its arm Liva Healthcare's unit in Vadodara, Gujarat. Khaitan India: Shares ended 11.79 percent higher at Rs 62.60. The stock has been gaining for the last four days and has risen 47.41 percent in the period, outperforming the sector by 9.88 percent. Indiabulls Real Estate: Shares ended 4.45 percent higher at Rs 149. Intra-day, it rose 9 percent, touching a high of Rs 155.05 as promoters increased their stake in the company. Reliance Industries: Shares ended at Rs 1,293.90, down by 1.90 percent, after opening at fresh high of Rs 1,329. RIL dragged Nifty by 22 points in the trade today. Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.