Fag-end selling drags Sensex 163 pts down; mid-caps gain; Voda Idea up 10%

Earlier in the day, the 30-share index scaled mount 56,000 and hit a fresh record high of 56,118. The Nifty50, on the other hand, hit a new high of 16,702

Stock market updates: Fag-end selling amid weekly F&O expiry, aggravated by profit-taking in financial, metal, and select auto stocks, dragged benchmarks in the red on Wednesday. The BSE Sensex index ended 163 points, or 0.29 per cent, lower at 55,629 levels while the Nifty50 index held the 16,550-mark and closed at 16,569, down 46 points or 0.28 per cent.

Earlier in the day, the 30-share index scaled mount 56,000 and hit a fresh record high of 56,118. The Nifty50, on the other hand, hit new high of 16,702.

The broader markets, meanwhile, were mixed. The BSE MidCap index added 0.26 per cent but the BSE SmallCap index slipped 0.18 per cent.

4:03 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index opened a day with a strong gap but profit booking from higher-end led index closed in negative territory at 16569 with loss of nearly half per cent and formed a bearish candle after forming bullish candles for four consecutive sessions. The index has formed dark cloud cover candle pattern on the daily chart which is bearish reversal candle pattern by nature, the index still has good support zone at 16500 if broke then we may see more profit booking comes in & we may see index dragging towards 16400 zone and now resistance is coming near 16630-16700 zone.

4:02 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Succumbing to profit-booking, Indian market gave away its gains. Bleeding banking, realty and metal stocks dragged while midcaps provided some relief but the broad trend was weak. European markets traded cautiously as Eurozone inflation accelerated to 2.2% in July, beating ECB estimates of 2% owing to a spike in energy prices. The market are awaiting the US Fed meeting minutes to provide some direction on future policy, which is expected to showcase its current accommodative policy in-line with the latest policy statement.

4:01 PM

Meghmani Finechem ends at 5% upper circuit on listing day

>> The stock had opened at Rs 386.35

3:58 PM

Bajaj Finance ends 2% higher; stock had hit record in trade today

>> The company's market cap had jumped to Rs 4 trillion in intra-day deals

3:56 PM

Canara Bank gains 2% as QIP kicks off

>> Canara Bank opened its QIP on Tuesday to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share.

 

3:55 PM

Vodafone Idea surges 12% amid bulk deal in the counter

>> Over 4 crore shares change hands on BSE and NSE in bulk trade

3:52 PM

NIFTY PRIVATE BANK index tanks nearly 1%

>> IDFC First Bank only gainer in the Nifty Private Bank pack

3:48 PM

FMCG index gains nearly 0.70%; liquor stocks lead gainers

>> Colgate, Godrej, Emami only losers in the pack

3:45 PM

SECTOR WATCH :: FMCG best sectoral gainer; private banks worst perfrormers

>> IT, Pharma & PSU Bank indices also gain

3:43 PM

Market bread favours sellers

>> Advance-decline ratio at 1:2

3:41 PM

BSE MIDCAP index adds 0.26%

3:40 PM

BSE SMALLCAP index declines nearly 0.20% but outperforms Sensex

3:37 PM

ICICI Bank, Kotak Bank, HDFC among top Sensex drags today

3:35 PM

Sensex Heatmap | Top gainers & losers at close

>> TOP GAINERS: Ultratech Cement, Bajaj Finance, Bajaj Finserv

>> TOP LOSERS: Kotak Bank, ICICI Bank, Power Grid

3:33 PM

CLOSING BELL :: Sensex, Nifty reverse gains to end in the red

>> Sensex reversed gains amid profit booking at higher levels ends 163 points down at 55,629. It had scaled Mt 56K in intra-day session. Nifty50 too had hit fresh peak of 16,702 in trade today but ended the day close to the 16,650 mark at 16,552, down 63 points.