After a one-day hiatus, equity markets resumed their broad-based downward trend on Wednesday led by profit booking in Reliance Industries, ICICI Bank, Power Grid, Maruti Suzuki, M&M, HDFC Bank, and L&T.
The S&P BSE Sensex shed 790 points, or 1.08 per cent, on Wednesday to settle at 72,304 levels, a day ahead of the release of the Q3FY24 GDP numbers.
The Nifty50, on the other hand, shut shop at 21,951, falling 247 points or 1.11 per cent. The indices hit inraday lows of 72,222 and 21,916, respectively.
The pain was deeper in the broader markets with the BSE MidCap and SmallCap indices sliding 1.8 per cent and 1.9 per cent, respectively.
Among sectors, the Nifty Media, Realty, Metal, and PSU bank indices declined in the range of 2 per cent to 3.5 per cent. All other indices slipped up to 1.5 per cent.
Global Cues
Asian shares were mostly in red. Nikkei, Straits Times and Taiwan declined up to 0.5 per cent. On the other hand, Kospi was up 0.5 per cent.
Overnight, the US market ended on a mixed note, with the S&P 500 and Nasdaq up 0.2 per cent and 0.4 per cent, while the Dow Jones down 0.3 per cent.
The 10-year US Treasury bond yield hovered around 4.29 per cent. Whereas, Brent Crude Oil futures consolidated around $82 per barrel.
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