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Market Closed Negative on Wednesday , Metal Stocks gained

Market Closed Negative on Wednesday , Metal Stocks gained

After 3 consecutive days hike, market upturn stopped. Both benchmark indices Nifty and SENSEX closed with a decline of 0.5%. Nifty declined 60 points and Bank Nifty dropped 300 points. ICICI Bank, Kotak Mahindra, and HDFC bank created pressure on the market. Indiabulls Housing Finance shares were under selling pressure, in a week this share has broken more than 24%.

Metal shares gained today. After expecting the increase in antidumping duty Tata Steel, SAIL and JSPL shares bounced 1.5-2%.

Midcap and Smallcap shares declined with large-cap shares. BSE Midcap index closed at 14925 with loss of 0.8%, while the BSE Smallcap index declined 0.5% to below 14550 levels. Oil & gas shares dropped also.

According to provisional data from stock exchange Domestic investors sold shares of worth Rs 151.01 crore while Foreign investors bought equity worth Rs 95.79 crore.