Sensex, Nifty dip on IT, telecom, realty selling

Mumbai

Equity benchmark indices, Sensex and Nifty, ended moderately lower on Wednesday due to strong selling in IT, telecom, and realty sectors, amid rising concerns over a global economic slowdown.

The 30-share BSE Sensex dropped 72.56 points or 0.10% to close at 74,029.76. During the day, it slipped as much as 504.16 points or 0.68% to touch an intraday low of 73,598.16. Similarly, NSE Nifty declined 27.40 points or 0.12% to end at 22,470.50, after falling 168.35 points during the session to an intraday low of 22,329.55.

Among Sensex losers were Infosys, Tech Mahindra, Nestle India, TCS, HCL Tech, Asian Paints, Axis Bank, Zomato, Hindustan Unilever, and Bharti Airtel. Gainers included IndusInd Bank, Tata Motors, Kotak Mahindra Bank, Bajaj Finance, HDFC Bank, ITC, Sun Pharma, Bajaj Finserv, and UltraTech Cement.

The BSE Smallcap index slipped 0.48%, while Midcap fell 0.57%. Sectors like IT, Realty, Telecom, Metal, and Capital Goods witnessed declines. Meanwhile, Energy, FMCG, Financial Services, Healthcare, and Auto showed gains.

Asian markets closed mixed, while European markets were trading higher. Brent crude rose 0.34% to USD 69.80 per barrel.

On Tuesday, FIIs sold shares worth Rs 2,823.76 crore, while DIIs bought shares worth Rs 2,001.79 crore, as per exchange data.