Top gainers and losers of Wednesday's session
NEW DELHI: Equity market benchmarks Nifty50 and Sensex extended losses for the third consecutive session on Wednesday.
The Nifty50 index closed 69 points down at 10,118, while the BSE Sensex ended Wednesday’s session 181 points down at 32,760.
Weak global sentiments, emanating from falling oil and metal prices, muted earnings as well as India’s widening trade deficit and growing inflation numbers hemmed in to put pressure on the domestic equity market.
Metal stocks plunged due to a slump in global metal prices after official data revealed a decline in China’s industrial output in October.
Global oil prices declined after International Energy Agency, on Tuesday, cut its oil demand growth forecast by 100,000 barrels per day (bpd) for this year and next, reported Reuters.
Among the losers of Wednesday’s session, Bharti Infratel remained at the bottom i the Nifty50 index, with a loss of over 4 per cent. The scrip declined after Bharti Airtel said it had offloaded 83 million shares of its subsidiary for Rs 3,325 crore through the secondary share sale.
It was followed by Sun Pharma and Vedanta, both falling over 4 per cent. Shares of UP, Hindalco and Indiabulls Housing Finance declined up to 3 per cent.
Bharat Petroleum Corporation, Asian Paints, Ambuja Cements and Tech Mahindra emerged as the top gainers of Wednesday’s session.
Falling global metal prices took a toll on Nifty Metal index which cracked nearly 3 per cent on Wednesday to stood as the top loser among sectoral indices on NSE.
Nifty Pharma, PSU bank, FMCG and realty indices also declined over 1 per cent.
Among the 51 stocks in the Nifty50 stocks, 13 settled in the green, while 37 in the red on Wednesday.
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Via:: Economic Times – Stocks