Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) reversed their morning gains and ended nearly 1 per cent lower on Wednesday amid a last-hour cross-sector selloff.
The S&P BSE Sensex crashed 555.15 points (0.93 per cent) to end at 59,189.73 while the Nifty 50 slipped 176.30 points (0.99 per cent) to settle at 17,646.00. Both the indices had opened higher earlier in the day and traded in the positive territory throughout the morning session before erasing their gains and slipping into the red towards the afternoon.
On the BSE benchmark, IndusInd Bank was the top loser of the day followed by Tata Steel, Bajaj Auto, HCL Technologies, Sun Pharmaceutical Industries, Reliance Industries (RIL), Titan Company, Tech Mahindra, State Bank of India (SBI) and ITC. On the other hand only HDFC Bank was a credible gainer with over a 1 per cent rise.
Among the sectoral indices on NSE, the Nifty Metal index crashed 2.98 per cent dragged by National Aluminium Company, Vedanta and Hindalco Industries. Apart from this, Nifty Pharma index fell 1.87 per cent weighed by Abbott India and Gland Pharma. The Nifty Realty too slipped 1.62 per cent due to a fall in Indiabulls Real Estate and Prestige Estates Projects.
In the broader market, the S&P BSE MidCap ended at 25,374.16, down 314.51 points (1.22 per cent) while the S&P BSE SmallCap settled at 28,693.00, down 158.62 points (0.55 per cent). The volatility index or India VIX rose 5.70 per cent to 17.3325.
(with inputs from agencies)