Mumbai: Indian equity benchmarks Sensex and Nifty50 gave up initial gains in a volatile session on Wednesday despite strength across global markets. Losses in oil and gas, financial services, consumer goods and metals pulled the market lower. Broader markets were extremely volatile and slipped deep into the red again.
The Sensex index dropped 456.1 points or 0.7 percent to end at 61,260 and the broader Nifty50 benchmark shed 136.5 points (0.7 percent) to settle at 18,282.3. Nifty Midcap 100 and Nifty Smallcap 100 were both down over 2 percent.
Stocks that saw a bull-run in last few weeks, see a major beating. Majority of midcap stocks close with cuts; NSE advance-decline ratio at 1:4. 41 nifty stocks closed in the red; Hindalco, BPCL, Titan, HUL, IOC top losers. Irctc down 19% today & 25% in last 2 sessions
Voda Idea ends 7% higher after co announces deferment of spectrum installment by 4 years. PSU banks gain in a weak session of trade, SBI hits record high, Union Bank up 6%.
Metropolis, BHEL, Zee Ent, Indus Towers, Indian Hotels top midcap gainers.