Nifty down below 7,900-mark
The benchmarking indices closed marginally lower on Wednesday amid profit booking by investors in late trades on the select counters including banking and technology, besides some oil stocks.
Mumbai: The benchmarking indices closed marginally lower on Wednesday amid profit booking by investors in late trades on the select counters including banking and technology, besides some oil stocks.
Experts see weakness in global markets which caused sudden selling pressure in Indian equities. There is lot of uncertainty in the markets as investors are worried about the impact of the slowdown in the Chinese economy on the global markets.
Further, investors are seen cautious regarding the upcoming third-quarter earnings season which starts from January 14.
Sensex closed down 119 points at 25,960 and Nifty ended down 33 points at 7,896. While broader markets outperformed index shares with midcap and smallcap indices ended up 0.1 per cent each.
On the other hand, there is less participation by the institutional investors due to year-end holidays. On sectoral front, heavy selling is seen in IT, Banking automobile shares, while metals, FMCG and telecom shares gained.
The gainers: Tata Steel, up 1.18 per cent at Rs 258.15; Tata Motors, up 0.68 per cent at Rs 393.50; Dr Reddy's Labs, up 0.62 per cent at Rs 3,121.40; NTPC, up 0.52 per cent at Rs 145.25; and BHEL, up 0.50 per cent at Rs 169.50.
The losers: Infosys, down 1.60 per cent at Rs 1,086.05; Tata Consultancy Services (TCS), down 1.37 per cent at Rs 2,418.40; State Bank of India (SBI), down 1.18 per cent at Rs 225.80; Maruti Suzuki, down 1.08 per cent at Rs 4,588.45; and Reliance Industries, down 1.01 per cent at Rs 1,004.85.