The market ended volatile session lower on Wednesday, but recovered half of its losses amid continued uncertainty over the formation of government in Karnataka. Recovery in rupee post RBI’s likely intervention and fall in crude oil prices also supported the market. Reliance Industries, ICICI Bank and HDFC Group stocks dragged while ITC and HUL provided support to the market. The 30-share BSE Sensex was down 156.06 points at 35,387.88 and the 50-share NSE Nifty fell 60.80 points to 10,741.10. The Nifty Midcap index outperformed frontliners, ending below the flatline but the market breadth remained in favour of declines. About two shares fell for every share rising on the NSE. » Read more
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Benchmark indices opened sharply lower, following weak trend in global stocks and uncertainty over formation of government in Karnataka. The 30-share BSE Sensex was down 166.25 points at 35,377.69 and the 50-share NSE Nifty declined 54.20 points to 10,747.70. Nifty Bank fell 184 points as PNB plunged 10 percent. Lupin, Power Grid, Tata Steel, Tata Motors, TCS and Tech Mahindra were early gainers. Titan Company, Bajaj Finserv, ICICI Bank, Axis Bank, Cipla, HPCL and SBI were under pressure. Nifty Midcap was down 83 points. Reliance Communications, Jaypee Infratech, MRPL, Shakti Pumps, PI Industries, Syndicate Bank, Allahabad Bank, Karnataka Bank, Bajaj Hindusthan and IDBI Bank were down up to 8 percent. Endurance, Crompton Consumer, Indiabulls Real Estate, Bhushan Steel, IRB Infrastructure and Ashok Leyland gained up to 7 percent.