Business
Indian Markets Close Lower as Sensex and Nifty Post Modest Losses
Benchmark domestic equity indices closed modestly lower on Wednesday, with the Sensex declining 188 points and the Nifty losing 36 points, while midcap stocks outperformed amid a mixed broader market trend.
Benchmark domestic equity indices ended with modest losses on Wednesday, August 12, as investors remained cautious during the trading session.
The BSE Sensex declined 188 points, or 0.24 per cent, to close at 77,966, while the NSE Nifty fell 36 points, or 0.15 per cent, to settle at 24,436. The closing figures are broadly consistent with contemporary market reports, which put the Sensex at 77,966.35 and the Nifty at 24,435.95.
The broader market displayed a mixed performance. On the National Stock Exchange, the Nifty Midcap 100 index gained 0.3 per cent, indicating relative strength among mid-sized companies, while the Nifty Smallcap 100 index declined 0.2 per cent.
The market’s modest decline came amid pressure on several major stocks and sectors. Contemporary market coverage reported that Tata Group shares faced selling pressure following the announcement that Tata Sons Chairman N Chandrasekaran would step down at the end of his current term. Rising crude oil prices and investor caution also weighed on sentiment.
Despite the weakness in the benchmark indices, the relatively stronger performance of midcap stocks indicated that the broader market was not uniformly under pressure. The mixed movement between midcap and smallcap stocks reflected selective buying and selling across different segments of the equity market.
