Indian Indices Close in Red Midweek; Oil & Natural Gas Drops 3%

Indian benchmarks settled in red for the sixth straight day on Wednesday, mainly weighed down by auto and capital goods stocks.

Both BSE Sensex and NSE Nifty started the day on a positive note but failed to hold onto their gains, finally ending below the flatline.

At the close, the Sensex slumped 68.62 points, or 0.1%, to 57,232.06, while the Nifty slid 28.90 points, or 0.2%, to 17,063.30.

Oil & Natural Gas (ONGC, BOM:500312) topped Wednesday’s losers, with shares dropping 3%, followed by Hero Motocorp (HEROMOTOCO, BOM:500182) and NTPC (NTPC, BOM:532555).

Conversely, Kotak Mahindra Bank (KOTAKBANK, BOM:500247), Titan (TITAN, BOM:500114) and IndusInd Bank (INDUSINDBK, BOM:532187) were the high performers.

In corporate news, Indian conglomerate Adani Enterprises (ADANIENT, BOM:512599) sold its entire stake in subsidiaries DC Development Hyderabad and Noida Data Center to Adani Connex for 100,000 Indian rupees ($1, 341) each. Adani Connex is a joint venture between Adani Enterprises and data center provider EdgeConnex Europe. Shares of Adani Enterprise rose over 1% at the close of trade.

Meanwhile, India logged 15,102 fresh COVID-19 cases and 278 new deaths in the last 24 hours.

Source: 16:13 Feb 23, 2022 MT Newswires


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