The two key equity benchmarks, Sensex and Nifty, on Wednesday began trading with cuts tracking losses in global markets on renewed fears of a banking crisis ahead of US Fed’s monetary policy decision later today.
At 10 am, the BSE Sensex, which dropped 270 points in early trade, was trading at 61,158, down 196 points. On the other hand, the NSE Nifty was down 60 points to 18,087.
On the 30-share Sensex platform, Bajaj Finance, TCS, HCL, Reliance, TechM, Axis Bank were trading in the red. On the flip side, Asian Paints, HUL, ITC, Titan, Nestle, Tata Motors were among the winners.
Among specific stocks, IndiGo and SpiceJet gained 6 per cent and 3 per cent, respectively, following the insolvency filing by Wadia-owned Go First, which was driven by a cash crunch due to the grounding of nearly half its 57 aircraft.
In the broader markets, the BSE Midcap and Smallcap indices were nearly flat versus losses in BSE Sensex.
Sectorwise, Nifty IT and PSB indices dropped 1 per cent each. Media and Realty indices were trading in the green.
In the previous session on Tuesday, the BSE Sensex closed at 61,355, up 242 points. On the other hand, the NSE Nifty gained 83 points to 18,148.