Final Trade: Sensex slips 313 points, Nifty closes below 23,700; Asian Paints top Nifty loser
After opening in the green tracking mixed global cues, Indian equity benchmarks traded in a range, swinging between gains and losses, in Wednesday's session (February 5). Nonetheless, amid sharp losses in realty, FMCG and consumer durable stocks, indices ended in the red. The Nifty50 at the close ended lower by 0.18 per cent or 42.95 points at 23,696.3, while the BSE Sensex slipped 0.4 per cent or 312.53 points to 78,271.28.
Meanwhile, broader markets extended their previous day's gains, with the smallcap index ending nearly 2 per cent higher.
Vinod Nair, Head of Research, Geojit Financial Services said, "The domestic market traded within a narrow range in negative terrain. Investors are weighing the improved domestic outlook, buoyed by a favourable budget, against lingering global uncertainties stemming from the tariff war."
While declining US bond yields and lower crude oil prices have supported market sentiment, the rupee's depreciation could offset these gains, he added.
From the Nifty50 pack, top gainers included stocks like Hindalco, ONGC, Apollo Hospitals, BPCL and Adani Ports, while top laggards were Asian Paints, Titan, Nestle, Britannia and HUL.
Sectorally, all indices barring realty, auto, consumer durables and FMCG ended in the green, with the metal, oil & gas and PSU Banks leading sectoral gains.
Indian rupee lost ground further in trade today and ended at fresh low of 87.46 per US dollar in comparison to the previous day's close of 87.07.
European markets, traded in the red in Wednesday's session, as investors assessed key corporate earnings coming out of the region. Both German DAX and French CAC were down up to 0.25 per cent.