Market Closing: Sensex, Nifty down for 3rd day, IT stocks fall

Indian equity indexes fell for the third straight day on Wednesday, with a significant sell-off in information technology firms counteracting advances in financials.

The 30-share BSE Sensex dropped 303 points, or 0.56 percent, to 53,749, while the wider NSE Nifty sank 99 points, or 0.62 percent, to 16,026. During today's session, the Sensex fluctuated in a 696-point range. Mid and small-cap stocks finished down, with the Nifty Midcap 100 down 2.45% and small-cap down 3.46 percent.

The NSE's 15 sector gauges all ended the day in the red. Nifty IT, Nifty Consumer Durables, and Nifty Pharma, among other sub-indices, underperformed the platform by 3.38%, 1.32%, and 1.16%, respectively.

The top Nifty loser was Asian Paints, which fell 8.03 percent to 2,839. Among the laggards were Adani Ports, Divi's Labs, UPL, and Tech Mahindra. 

On the BSE, the total market breadth was negative, with 715 shares rising and 2,612 falling. Asian Paints, TCS, TechM, Wipro, L&T, Infosys, HCL Tech, SBI, M&M, Titan, PowerGrid, and UltraTech Cements were among the biggest losers on the 30-share BSE index.

On the other hand, stocks of NTPC, Bharti Airtel, Kotak Mahindra Bank, HDFC, Nestle India, ICICI Bank, ITC, and HDFC Bank ended the day in the green.

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