Closing Bell: Sensex Falls 353 Pts, Nifty Ends Below 22,700

Indian equity markets ended Wednesday’s session, October 28, on a negative note as selling pressure in IT and oil and gas stocks dragged the benchmark indices lower. However, gains in automobile, pharmaceutical and select other sectors helped limit the overall decline. Key Market Highlights Sensex declined 352.64 points, or 0.48 percent, to close at 73,246.03. Nifty 50 fell 50.90 points, or 0.22 percent, to settle at 22,698.85, moving below the 22,700 mark. Sectoral Performance Information Technology and Oil and Gas were the weakest-performing sectors, declining by more than 2 percent each. Realty, Energy and FMCG stocks recorded losses of around 0.5 percent each. Automobile, Consumer Durables, Media and Pharma indices advanced by approximately 1 percent each, emerging among the better-performing sectors. Broader Market Trends Broader markets demonstrated relative strength compared with the benchmark indices. The Nifty Midcap index gained 0.4 percent, while the Nifty Smallcap index advanced 1 percent. Market Outlook Weakness in IT and oil and gas shares weighed on the frontline indices, while buying interest in automobile, pharmaceutical and small-cap stocks provided support to the broader market. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.