Nifty slips 0.66%, Sensex falls, 322 stocks hit 1-year lows
Markets had a rough Wednesday: At 1.05pm the Nifty 50 was at 22,737.80, down 151.15 points or 0.66% from its Monday close of 22,888.95, and Sensex slipped too.
It was a tough day for most stocks: 322 hit their lowest point in a year, while only 81 managed new highs.
The advance-decline ratio showed most stocks were struggling.
Infosys, Tech Mahindra rally, midcaps fall
While the overall mood was gloomy, IT stocks like Infosys and Tech Mahindra actually jumped over 2%. UltraTech Cement also saw some gains.
On the flip side, auto and finance names like Bajaj Finance and Eicher Motors took big hits.
Midcap and smallcap indices dropped sharply too, reflecting widespread caution.
Crude near $99.15, gold eases
Crude oil prices hovered near $99.15 as geopolitical worries continued, while gold became cheaper thanks to a stronger rupee and a US 10-year Treasury yield near 5.144%.
All in all, it was a day where safe bets were hard to find unless you were holding onto select IT shares.