Bears Seize Control: Sensex Ends Lower for 6th Day; Nifty Smallcap Outperforms

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Bears Seize Control: Sensex Ends Lower for 6th Day; Nifty Smallcap Outperforms
Credit: © Reuters.

By Malvika Gurung -- Indian equity benchmark indices ended lower on Wednesday, extending losses for the sixth consecutive day, as the market gave away its upbeat sentiment and pared gains towards the later end of the session.

Bears managed to take Dalal Street back in control, erasing out morning gains, due to fag end sell-offs in auto and select financial stocks, while investors remained cautious of the aggravated Russia-Ukraine crisis.

Domestic benchmark gauges Nifty 50 and Sensex ended 0.17% and 0.12% lower, even though oil prices eased from their multi-year highs after the US and Western sanctions on Russia clarified that it would not affect oil supplies.

Broader market indices outperformed their headline peers, with Nifty Midcap gaining 0.64% and Nifty Smallcap jumping 1.16%.

The fear barometer India VIX eased almost 8% to 24.54.

Barring Nifty Auto , Nifty Financial Services and Nifty IT , all the remaining sectoral indices on the Nifty basket ended the session in the green, led by Nifty Realty , up 3.15%. Nifty Bank ended marginally higher by 0.05%. Nifty Auto slid the most, by 0.21%.

46% of the stocks listed on Nifty50 ended in green, led by Kotak Mahindra Bank (NS: KTKM ), Titan (NS: TITN ) and IndusInd Bank (NS: INBK ), up 1-2.2%, while ONGC (NS: ONGC ), Hero MotoCorp (NS: HROM ) and NTPC (NS: NTPC ) were the worst laggers, declining 1.5-2.4%.

On the 30-scrip Sensex, 16 stocks ended in green.

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