Stock Market: Sensex Slips 44 Points, Nifty Trades Below 17,900. Airtel Sinks 3.5%

Sensex and Nifty, the two key equity benchmarks, on Wednesday opened lower amid volatility, tracking tepid foreign flows and rising oil prices. The Sensex declined over 300 points, while the NSE Nifty was down 90 points in early trade.

At 9.45 am, the benchmarks recouped some of the losses. The S&P BSE Sensex was down 44 points to 60,071, while the broader NSE Nifty50 was trading at 17,893, down 21 points.

On the 30-share Sensex platform, Airtel falls over 3.5 per cent. Reliance, HUL, M&M, Nestle, Asian Paint were the other losers. On the flip side, HCL, Tata Motors, TechM, UltraCemco, Infosys, TCS, and others were trading in the green.

Among individual stocks, shares of Adani Wilmar gained over 2 per cent after the company saw strong volume growth in Q3 business update. Shares of Uttam Sugar Mills surged over 5 per cent after the company increased its distillery capacity for ethanol at Barkartpur plant.

In the broader markets, Nifty SmallCap 100 index outperformed Nifty MidCap 100 index.

Sectorwise, Nifty IT, Nifty Media, and Nifty Metal indices were off to a decent start as they surged up to 0.5 per cent. Nifty FMCG, and Nifty Realty indices, however, declined the most, up to 0.2 per cent.

In the previous session on Tuesday, the S&P BSE Sensex settled at 60,115, down 631 points, while the NSE Nifty50 ended at 17,914, down 187 points.