Sensex Slips Over 400 Points On Profit-Booking; Nifty Trading Below 18,300

Share Market: Equity indices plunged into red on Wednesday in a highly volatile amid profit-booking by investors. The benchmark BSE Sensex fell 410 points or 0.66 per cent to 61,306 in late deals; and the broader NSE Nifty moved 131 points or 0.71 per cent lower to 18,288.

Sensex Slips Over 400 Points On Profit-Booking; Nifty Trading Below 18,300

Stock Market Updates: According to market experts, investors are booking profits at every peak.

New Delhi: Equity indices plunged into red on Wednesday in a highly volatile amid profit-booking by investors. The benchmark BSE Sensex fell 410 points or 0.66 per cent to 61,306 in late deals; and the broader NSE Nifty moved 131 points or 0.71 per cent lower to 18,288.

Major laggards in the BSE pack included Titan, Hindustan Unilever, PowerGrid, Bajaj Finserv, Mahindra & Mahindra, Kotak Mahindra Bank and Bajaj Auto with their stocks down as much as 2.32 per cent.

Bharti Airtel, SBI, Axis Bank, Bajaj Finance, Tech Mahindra and ICICI Bank were trading in green by rising as much as 3.90 per cent.

On the NSE platform, sub-indices Nifty FMCG (fast-moving consumer goods) and Nifty Metal were trading as much as 1.67 per cent lower. Nifty PSU Bank outperformed the index during late deals by rising as much as 1.77 per cent.

According to market experts, investors are booking profits at every peak, adding volatility to the market.

Analysts also said that investors were awaiting corporate views during September-quarter earnings as higher commodity costs and raw material expenses are expected to hurt margins for companies even as they post profit increases.

Consumer giant Hindustan Unilever dropped as much as 2.5 per cent to Rs 2,484 after it warned that margins could remain under pressure in the near term due to elevated commodity prices.

Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 505.79 crore on Tuesday, as per exchange data.

On the commodity trading front, Kolkata Bullion Market will remain closed today on account of 'Lakshmi Puja'.

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