Leaders Online Desk: Indian stock markets fell on Wednesday (29) amid weak global cues and jitters ahead of the Lok Sabha election results. Sensex and Nifty closed at negative levels for the fourth consecutive session. The Sensex closed down 667 points at 74,502. While the Nifty settled at 22,704 with a decline of 183 points. IT, Oil & Gas, Realty and Banking shares witnessed the highest selling pressure in today's trading session.
A mixed trend was observed on the sectoral front. Capital goods, healthcare, metals, power closed in the green. While Auto, Bank, FMCG, IT, Oil & Gas and Realty declined by 0.3-1 percent. BSE Midcap fell 0.3 percent. While smallcaps closed up 0.2 percent.
'HE' heavyweight shares fell
On the Sensex, shares of ICICI Bank, Tech Mahindra, Bajaj Finance, Axis Bank fell by 2 percent each. Also shares of HDFC Bank, Ultratech Cement, SBI, Infosys, Wipro, Kotak Bank fell by around 1 percent each. Shares of Reliance also fell by 0.9 percent. While shares of Power Grid, Sun Pharma, Nestle India rose by 1 percent.
Who are the top gainers on Nifty?
HDFC Life, SBI Life, Tech Mahindra, Tata Consumer, Bajaj Finance were the top losers on Nifty. These shares fell by 2 to 3 percent. Hindalco, Power Grid, Divis Lab, Bajaj Auto, Cipla remained the top gainers. Nifty Financial Services fell by 1.5 percent and Nifty Bank by 1.2 percent and Nifty IT by 1 percent.
The Adani Effect! Paytm shares upper circuit by 5 percent
Shares of Paytm's parent company One97 Communications took an upper circuit of 5 percent in the trading session on Wednesday. Adani Group chairman Gautam Adani boosted Paytm's shares on the news that it will buy a stake in Paytm's parent company One97 Communications. This share (One97 Communications Share Price) remained at Rs 359 on NSE today. Meanwhile, Paytm, however, told the exchanges that this is just a speculation. The firm has not discussed this.
Foreign investors
Foreign institutional investors remained net buyers in the Indian market on May 28. While they bought Indian shares worth Rs 65.57 crore, domestic institutional investors continued their buying spree and bought shares worth Rs 3,231.67 crore in a single day.