The Indian equity benchmark indices fell on Wednesday as investors kept an eye on rising crude oil prices. Brent crude futures traded near the $117 a barrel mark on global supply concerns amid the ongoing Russia-Ukraine conflict.
The domestic indices started on a higher note but gave up all of their gains in afternoon deals, dragged by automobile and financial stocks.
Back home, the 30-share BSE Sensex slipped 304 points or 0.53 per cent to close at 57,685, while the broader NSE Nifty moved 70 points or 0.40 per cent lower to settle at 17,246.
Mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index rose 0.55 per cent and small-cap shares shed 0.21 per cent each.
Eight out of the 15 sector gauges — compiled by the National Stock Exchange — ended in the red. Nifty Auto and Nifty Financial Services underperformed the index by falling as much as 1.04 per cent and 0.88 per cent, respectively. However, Nifty Metal and Nifty Pharma surged as much as 1.21 per cent and 0.42 per cent, respectively.
On the stock-specific front, Kotak Mahindra Bank was the top Nifty loser as the stock cracked 2.61 per cent to ₹ 1,760.75. HDFC, Britannia, Bharti Airtel and Sun Pharma were also among the laggards.
Shares of Hero MotoCorp fell 1.22 per cent to ₹ 2,394 after the Income Tax (I-T) department began searches at the company’s premises. It also raided Hero MotoCorp Chairman Pawan Munjal and other senior executives of the company for suspected tax evasion.
The overall market breadth stood negative as 1,467 shares advanced while 1,927 declined on BSE.
