Domestic equity market ended lower on Wednesday mainly dragged by the financial and IT stocks.Net buying in FII/FPI was at Rs.1,008.20 crore while net selling in DII was ta Rs.12283.38 crore. The Sensex ended 400.34 points or 0.77% lower at 51,703.83 with shares of SBI, Powergrid, NTPC, Reliance, Bajaj Auto , Axis Bank ,Mahindra & Mahindra ,Bharti Airtel were having gains of 2.39%,2.04%, 1.33%, 1.12%, 0.82%, 0.28%, 0.25%, 0.01% respectively while shares of Nestle India, Bajaj Finserv, Asian Paints, HDFC Bank, IndusInd Bank, Maruti, Dr. Reddy ,HDFC were having losses of 2.80%, 2.61%, 2.48%, 2.48%, 2.46%, 2.45%,2.01% , 1.83% respectively. The Nifty fell 104.55 points or 0.68% to settle at 15,208.90 with Indexes like Media, Energy, Auto, Metal were having gains of 2.18%, 0.97%, 0.28%, 0.17% respectively whereas Pharma, IT, Realty, FMCG, Bank Indexes were having loss of 1.72%, 1.29%, 0.64%, 0.61%, 0.51% respectively.
TOP STOCKS IN NEWSCAST:
SBI surged over 2% as the Bank offers annuity deposit scheme in which the customers can get a fixed amount every month after depositing a one-time lumpsum payment.
NTPC gained over 2% as the company will provide ₹20 lakh each to the families of the contract labourers killed in flash floods at the under-construction Tapovan Vishnugad hydroelectric project in Uttarakhand’s Chamoli district.
Axis Bank rose nearly 1% as Share khan maintains Buy rating with a revised price target of Rs 900.The bank has a strong asset-quality position, with the bank having front-loaded provision (on a proforma basis), which dovetail into an improved balance sheet and provides impetus for growth in FY2022E and FY2023E.