INSUBCONTINENT EXCLUSIVE:
Mumbai: Benchmark equity indices Sensex and Nifty snapped their four-session winning streak to close lower on Wednesday as traders booked
gains, in sync with the world markets which saw lackluster trade, ahead of the crucial signing of the US-China Phase I deal.
The market also
took cues from the first set of corporate earnings numbers that have trickled in, and the focus shifted to the upcoming Union Budget.
The
30-share Sensex closed 0.19 per cent or 80 points lower at 41,873, while the 50-share Nifty dropped 0.15 per cent or 19 points to settle at
12,343.
Even as the market closed lower, the breadth was positive with gainers outpacing losers in the ratio of 3:2 on BSE.
Market at a
glance:In the Sensex kitty of stocks, 14 of 30 stocks closed higher
IndusInd Bank was the biggest loser, shedding 5.49 per cent after the private lender missed Street estimates when it posted December
quarter numbers.
Infosys, SBI, Power Grid and Tech Mahindra were among other losers
Meanwhile, Hero MotoCorp with a rise of 2.58 per cent was the biggest gainer, followed by Titan, Maruti Suzuki, Asian Paints and M-M.
The
broader market logged gains with the BSE 500 index advancing 0.15 per cent
BSE Midcap and Smallcap indices outperformed smartly, as they gained 0.67 per cent and 1.06 per cent, respectively.
Shares of Wipro fell
the upcoming Union Budget
The sectoral index was the top gainer and rose 1.34 per cent
Prestige Estate Projects and Indiabulls Real Estate rose 5.74 per cent and 4.99 per cent, respectively.
Shares of YES Bank rose 3.11 per
cent after the bank informed stock exchanges that efforts were being made to financially strengthen the bank and that the lenders' capital
adequacy ratio is comfortably above the regulatory requirement.
City gas distributor Mahanagar Gas jumped 8.56 per cent after Credit Suisse
may stay for another month or two
markets:Asian stocks slipped while European shares traded flat on Wednesday as investors awaited the signing of an initial US-China trade
deal, with sentiment somewhat dented by comments from the US Treasury Secretary that tariffs would remain in place, for now, Reuters
Tuesday.
The pan-European STOXX 600 index rose 0.04 per cent by 0805 GMT.