Share markets on Wednesday: Forty one out of 50 stocks on Nifty finished session lower.
Domestic stock markets fell around 1 per cent on Wednesday tracking weakness in Asian peers.
Bombay Stock Exchange (BSE) benchmark index Sensex ended at 35,891.52, down 363.05 points or 1.00 per cent from previous close, and Nifty50 index of National Stock Exchange (NSE) fell 117.60 points or 1.08 per cent to close at 10,792.50.
A selloff in auto and metal stocks, amid weak monthly sales figures and signs of a slowdown in manufacturing activity, pulled indices lower.
Here are 10 things to know:The SP BSE Sensex fell as much as 520.56points during session to touch 35,734.01at day's lowest point, while Nifty50 dropped 175.05 points to register an intraday low of 10,735.05.The markets, however, pruned some of losses by end of session.Forty one out of 50 stocks on Nifty finished lower.Prominent losers on 50-scrip index included Eicher Motors (-9.40 per cent), JSW Steel (-5.44 per cent), Tata Steel (-4.51 per cent), Vedanta (-4.40 per cent) and Mahindra Mahindra (-4.24 per cent).Vedanta (-4.48 per cent), Tata Steel (-4.21 per cent), Mahindra Mahindra (-4.15 per cent), Tata Motors (-2.91 per cent), Maruti (-2.74 per cent) and Hero MotoCorp (-2.64 per cent)led losses on Sensex.The Nifty Auto index closed 3.05 per cent lower, dragged lower by Eicher Motors and Mahindra Mahindra, which plunged a day after companies reported their sales in December."The market is feeling hit owing to frail global dynamics and weak Asian cues A majority of auto stocks are under pressure due to weak sales figures," said Ritesh Ashar, chief strategy officer, KIFS Trade Capital.Metal stocks also weighed on benchmark indices, with Nifty Metal settling3.41per cent lower for day.Metals were worst performers for day due to Chinese data China reported PMI below 50 for first time since May 2017.
This spooked global markets," said Viral Berawala, CIO at Essel Mutual Fund.Investors also exercised caution ahead of corporate results scheduled to begin next week.IT services major Tata Consultancy Services will kick off corporate earnings season by reporting its results for December quarter on January 10.Meanwhile, rupee declined by as much as 27 paise against dollar to 69.70, amid strengthening of greenback overseas.(With inputs from agencies)