Share Market Today: Indices erase intraday gains to end lower for the third consecutive day, Sensex falls 303 points

Share Market Today News, Sensex, Nifty, Share Prices Updates, 25 May 2022: The S&P BSE Sensex fell 303.35 points (0.56 per cent) to end at 53,749.26 while the Nifty 50 declined 99.35 points (0.62 per cent) to settle at 16,025.80.

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People stand outside the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. (REUTERS/File Photo)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) erased their intraday gains and fell for the third consecutive day, ending over 0.5 per cent lower on Wednesday weighed by information technology (IT) and metal stocks.

The S&P BSE Sensex fell 303.35 points (0.56 per cent) to end at 53,749.26 while the Nifty 50 declined 99.35 points (0.62 per cent) to settle at 16,025.80. Both the indices had opened over 0.5 per cent higher earlier in the day and traded in the positive territory during the morning deals with the Sensex touching 54,379.59 and the broader Nifty hitting a high of 16,223.35. However, they failed to hold to the gains and turned negative towards the afternoon and continued in the red till the end of the session.

On the Sensex pack, Asian Paints, Tata Consultancy Services (TCS), Wipro, Tech Mahindra, Larsen & Toubro (L&T), Infosys, HCL Technologies, State Bank of India (SBI) and Mahindra & Mahindra (M&M) were the top laggards on Wednesday. In contrast, NTPC, Bharti Airtel, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), Nestle India, ICICI Bank, ITC and HDFC Bank were the top gainers.

Among the sectoral indices on the NSE, the Nifty IT index fell 3.38 per cent, Nifty Media declined 2.86 per cent, Nifty Metal slipped 1.95 per cent and Nifty Realty crashed 2.88 per cent.

In the broader market, the S&P BSE MidCap index ended at 21,829.06, down 430.49 points (1.93 per cent) while the S&P BSE SmallCap settled at 25,123.30, down 760.55 points (2.94 per cent). On NSE, the volatility index or India VIX fell 1.37 per cent to 25.2825.

“Domestic indices wavered tracking mixed sentiments from the global markets as investors assessed the possibility of a recession in the US followed by the Fed policy tightening. Global markets are awaiting the release of the Fed minutes, which will be evaluated for details on the path of the upcoming rate hikes. In this whipsaw market, investors can resort to defensives & value stocks & sector,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global market

Global stock markets gained Wednesday after Wall Street sank on weak US housing sales and a profit warning by a prominent social media brand. London, Frankfurt, Shanghai and Hong Kong advanced. Oil prices rose more than $1 per barrel to stay above $110.

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Wall Street futures were mixed. On Tuesday, the benchmark S&P 500 index lost 0.8 per cent.

In early trading, the FTSE 100 in London gained 0.5 per cent to 7,519.16 and Frankfurt’s DAX added 0.4 per cent to 13,972.15. The CAC 40 in Paris rose 0.2 per cent to 6,268.63. On Wall Street, the S&P 500 future was less than 0.1 per cent higher. That for the Dow Jones Industrial Average lost less than 0.1 per cent.

In Asia, the Shanghai Composite Index gained 1.2 per cent to 3,107.46 while the Nikkei 225 in Tokyo shed 0.3 per cent to 26,677.80. The Hang Seng in Hong Kong gained 0.3 per cent to 20,171.27. The Kospi in Seoul rose 0.4 per cent to 2,617.22 and Sydney’s S&P-ASX 200 added 0.4 per cent to 7,155.20.

-global market input from AP