Stock Market: Sensex Declines 200 Points; Nifty Around 19,600. Vedanta Slips 5 Per Cent


The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading in the red, with losses led by index majors. At 9.47 am, the BSE Sensex was down by 204 points to 65,741. On the other hand, the NSE Nifty50 was trading at 19,614, down 51 points.

On the 30-share Sensex platform, HDFC Bank, ICICI Bank, Nestle, Bajaj Finance, Titan, TCS were among the losers. On the upside, Sun Pharma, IndusInd Bank, L&T, JSW Steel, UltraCemco, Reliance emerged early gainers.

In the broader markets, Nifty Midcap and Smallcap indices were up by 0.11 per cent and 0.24 per cent, respectively.

Among specific stocks, Vedanta declined 5 per cent after Moody’s Investors Service downgraded the corporate family rating for Anil Agarwal-promoted Vedanta Resources in the absence of any meaningful progress on refinancing its upcoming debt maturities. Shares of Delta Corp rebounded after two straight sessions of losses.

Sectorwise, the Nifty Metal index was the biggest loser, down 0.5 per cent, followed by the Nifty Financial Services index (0.4 per cent).

In the previous session on Tuesday, the BSE Sensex closed at 65,945, down 78 points, while the NSE Nifty shut shop at 19,665, down 10 points.


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