Sensex Sheds Over 100 Points; Titan, IndusInd Bank, Bajaj Auto Top Losers

On the global front, the European markets have opened on a weak note and the Asian markets are trading mixed as multi-year high oil prices led to nervousness among the investors

Sensex Sheds Over 100 Points; Titan, IndusInd Bank, Bajaj Auto Top Losers

Titan, IndusInd Bank, Bajaj Auto and HCL Tech have shed 1-2 per cent each on BSE

The benchmark indices are trading in the red on Wednesday, amid a volatile session, on the back of mixed cues from the global bourses. The 30-share BSE Sensex has shed more than 500 points from the highs of the day and as of 1:20 pm, the BSE benchmark index is trading at 59,593.25, lower by 149.35 points or 0.24 per cent and the NSE Nifty is at 17,772.85, down 46.80 points or 0.25 per cent.

The broader markets are trading mixed, with the BSE Midcap index slipping 0.6 per cent and the BSE Smallcap index gaining 0.1 per cent.

On the global front, the European markets have opened on a weak note and the Asian markets are trading mixed multi-year high oil prices led to nervousness among the investors.

In the currency market, the rupee depreciated 21 paise to 74.65 against the US dollar on Wednesday as rising crude prices and strong dollar weighed on investor sentiments.

At the interbank foreign exchange, the rupee opened weak at 74.63 and fell further thereafter to 74.65, registering a decline of 21 paise from the previous closing. On Tuesday, the rupee had settled at 74.44 against the US dollar.

On the stock-specific front, Titan, IndusInd Bank, Bajaj Auto and HCL Tech have shed 1-2 per cent each on the BSE. Sun Pharma, Tata Steel and ITC are the other significant losers on the BSE.

On the other hand, select banking and financial shares are witnessing buying interest. HDFC Bank, HDFC, Bajaj Finance, Axis Bank and Kotak Mahindra Bank are the top gainers in the BSE pack, with gains of upto 1.5 per cent each.

The BSE market breadth is weak. Out of 3,363 stocks traded on the BSE, there are 1,578 advancing shares as against 1,621 declines.

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