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Sensex and Nifty End Marginally Lower, HCL Tech Rallies Over 4%

Equity benchmarks Sensex and Nifty ended with marginal losses on Wednesday, weighed down by Kotak Bank, Reliance Industries and HDFC Bank, despite largely positive cues from global peers. After touching a low of 38,125.81 during the day, the BSE Sensex pared most losses to end 37.38 points or 0.10 per cent lower at 38,369.63.

On similar lines, the NSE Nifty slipped 14.10 points or 0.12 per cent to close at 11,308.40. Kotak Bank was the top loser in the Sensex pack, dropping over 2 per cent, followed by Sun Pharma, Bajaj Finserv, L&T, Bajaj Finance, HUL and Titan.

On the other hand, HCL Tech rallied over 4 per cent. SBI, Tech Mahindra, Maruti and PowerGrid were among the other gainers. According to traders, market sentiment was weak following lacklustre macroeconomic data and concerns over rising coronavirus cases.

India’s industrial production declined by 16.6 per cent in June, on account of disruption in normal business activity following the outbreak of coronavirus pandemic, government data showed on Tuesday. The number of cases around the world linked to COVID-19 has crossed 2.02 crore, with India breaching the 23-lakh mark.

Bourses in Hong Kong, Tokyo and Seoul ended with gains, while Shanghai settled in the red. Most stock exchanges in Europe were trading on a positive note in early deals.

Global oil benchmark Brent crude was trading 1.48 per cent higher at USD 45.16 per barrel. In the forex market, the rupee slipped 5 paise to close at 74.83 against the US dollar.

Source: News18