Market ringing: Nifty down 0.23% at 21,616 points; Sensex down 200 points below 72,000.
Equity benchmark indices fell in early trade on Wednesday pulled down by IT stocks and weak trends from global markets.
Extending its previous day’s decline, the 30-share BSE Sensex fell 271.85 points to 71,620.63. The Nifty slipped 71.35 points to 21,594.45.
- The biggest laggards amongst the Sensex companies were JSW Steel, Tata Steel, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra, and Power Grid.
- Among the winners were Hindustan Unilever, Bajaj Finserv, ITC, and Reliance Industries.
- Hong Kong, Shanghai, and Seoul were selling at lower prices in Asian markets.
- Tuesday’s US market close was largely down.
- “High valuations have caused profit-booking, which has caused the market to become extremely volatile. Profits are being booked by even the regular buyers, the Domestic Institutional Investors (DIIs), according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
- The benchmark for world oil, Brent crude, fell by 0.03 percent to USD 75.87 a barrel.