INDIAN EQUITY MARKET PAINTED IN THE RED FOR THE FOURTH CONSECUTIVE SESSION

Domestic Equity Market closed with a lower note on Wednesday as dragged by across the broad selling amid mixed global cues. Moreover, market participants were seen cautious ahead of the weekly expiry of the F&O contracts due on Thursday. Net buying of FII/FPI was at Rs. 2,625.82 crore while net Selling in DII was at Rs.562.15 crore. The Sensex plunged 562.34 points or 1.12 percent to 49,801.62 with shares of ITC, Infosys, TCS, HDFC were having gains of 1.20%, 0.21%, 0.13%, 0.12% respectively whereas shares of ONGC, NTPC, Sun Pharma, SBI, IndusInd Bank, Reliance, Bajaj Auto, Dr. Reddy were having loss of 4.95%, 2.92%, 2.80%, 2.75%, 2.54%, 2.16%, 2.15%, 2.00% respectively .The Nifty closed 189.15 points, or 1.27 percent lower at 14,721.30 with Indexes like Energy, Media, Realty, Metal, Pharma ,Auto Indexes were having loss of 3.11%, 2.98%, 2.96%, 2.46%, 1.88%, 1.85% respectively.

TOP STOCKS IN NEWSCAST:

ITC surged over 1% due to the newsbreak of the likely demerger of ITC companies into tobacco, FMCG and hotels.

Infosys rose on Today’s session as the company has been positioned as a Leader in the IDC MarketScape: Worldwide Oracle Cloud Implementation Services 2020 Vendor Assessment.

TCS gained slightly as the company has launched its SaaS based Automated Vulnerability Remediation platform that helps enterprises stay one step ahead of malicious attacks by identifying and prioritizing vulnerabilities in their software libraries and proactively fixing them.

SBI fell over 2% as The Reserve Bank of India (RBI) has fined India's largest lender, State Bank of India (SBI), Rs 2 crore for failing to follow regulations in the payment of remuneration to its employees via commissions.