Money on the markets
A maturing market amid the mayhem
The BSE Sensex erased early morning gains of over 2 percent and ended 1.46 percent down on Wednesday as weak sentiments across Asia downplayed investor sentiments.
The fifty-share Nifty ended 1.57 percent down to 4398.
IT and capital goods stocks saw some heavy selling while most of the other sectors pared their early gains.
On the sectoral front, the BSE Capital Goods Index dropped 1.87 percent, followed by the Auto Index which ended 1.61 percent lower. All other indices ended the day in the red.
The BSE Sensex ended 0.9 percent up on Tuesday, recovering from yesterday’s biggest one-day drop in six months.
The benchmark turned negative during trade after rising more than 1 percent, as a large budget deficit weighed on investors’ minds. Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,000 to an intra-day high of 14,252 and closed 127 points higher at 14,170.
The BSE Sensex came under heavy selling pressure as investors booked profits in a market that has risen 80 percent since early March.
The 30-share sensitive index swung from an intra-day high of 14,668 to an intra-day low of 14,269 and closed 195 points lower at 14,326. The fifty-share Nifty ended 1.8 percent down at 4,235.