• Source:JND
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The stock market fell for the third straight day on Wednesday on gains in auto, pharma and capital goods stocks amid relentless foreign capital outflows. The benchmark BSE Sensex fell 138.74 points, or 0.17 per cent, to 80,081.98 points in the volatile session, ending at a 22-constituency low. During the day, the benchmark fell below 80,000 to a low of 79,891.68. The NSE Nifty closed down 36.60 points, or 0.15 per cent, at 24,435.50.

Mahindra & Mahindra, NTPC, Power Grid, Sun Pharma, Larson & Toubro, Adani Ports, ICICI Bank and Titan were among the biggest laggards from the 30 Sensex pack. Bajaj Finance rose nearly 5 per cent after the company reported a 13 per cent rise in consolidated net profit to Rs 4,014 crore in the second quarter ending September 2024.

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Tech Mahindra, HDFC Bank,  HCL Technologies,  Tata Consultancy Services, and Bajaj Finserv were among the other big beneficiaries. Foreign institutional investors on Tuesday offloaded shares worth Rs 3,978.61 crore while domestic institutional investors bought equity worth Rs 5,869.06 crore, exchange data showed.

Investor sentiment was dampened by tepid earnings and a knee-jerk reaction by FIIs, which dragged down market sentiment. However, while mids and small-caps are facing a bargain hunt after recent declines, the sustainability of these momentum-driven purchases remains uncertain.

Seoul, Shanghai and Hong Kong gained more space in the Asian market, while Tokyo finished lower. The European markets traded on mixed notes. U.S. markets ended flat on Tuesday. Brent crude, the global benchmark, fell 0.97 per cent to US$75.30 a barrel.

The benchmark BSE fell 930.55 points, or 1.15 per cent, to 80,220.72 on Tuesday. The NSE Nifty fell 309 points or 1.25 per cent to 24,472.10.

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(with Agencies Input)