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Domestic key equity indices closed marginally lower on Wednesday as heavyweights have turned mixed in their movements. The benchmark indices, the BSE Sensex and NSE Nifty, pared most of their early losses.
Initially, the Sensex fell over 200 points dragged by losses amid negative trend in global markets. However, it recovered most of its early losses due to some steady buying in sectors such as Auto, IT and Consumer Discretionary Goods.
According to traders, market sentiment was subdued tracking losses in other Asian indices after US equities ended lower.
Also, weak domestic factory output data dampened investors’ mood, they said.
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, the government data showed on Tuesday.
The BSE Sensex ended 37.38 points or 0.10 per cent lower at 38,369.63, while NSE Nifty was down 14.10 points or 0.12 per cent at 11,308.40.
Kotak Bank was the top loser in the Sensex pack, dropping 2 per cent, followed by Sun Pharma, L&T, Bajaj Finserv, TCS, Titan, and Hind Lever.
On the other hand, HCL Tech, SBI, Tech Mahindra, M&M, Maruti, Axis Bank, and Bajaj Auto achieved gains up to 5 per cent.
IndiGo shares climbs higher
Shares of IndiGo surged over 10 per cent today as the airliner has initiated talks with two lessors to sell and lease back 12 of its ATR 72-600 aircraft and their engines.
This is the first step towards raising additional liquidity of approximately ₹2,000 crore.
On the BSE, IndiGo zoomed Rs 94, or 10 per cent, to Rs 1,034 with huge volumes of 64.68 lakh. Similarly, the stock gained Rs 93.70, or 9.97%, to Rs 1,033.35.
JMC Projects shares zoom on fresh orders
Shares of engineering firm JMC Projects (India) on Wednesday rallied over 8 per cent after the company said it has secured new orders worth Rs 1,363 crore.
The stock jumped 7.95 per cent to Rs 52.30 on the BSE. On the NSE, it zoomed 8.26 per cent to Rs 52.40.
In a filing to the BSE yesterday, the company said it has won Rs 1,169-crore building projects order in southern India; while in Bihar, it has won a water supply project of Rs 194 crore.
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