Sensex falls 391 pts, Nifty holds 17,000, Wipro falls 7 pc

MARKET CLOSING UPDATES: The key benchmark indices witnessed high amount of volatility on Thursday's trading, with the NSE Nifty's 17,000-mark in focus on the weekly futures & options expiry day. 

Following a sharp increase in retail inflation in India to 7.41 percent in September, which in turn raised concerns of another rate hike by the RBI of 50 basis points, the BSE Sensex opened 100 or so points lower. 

The BSE benchmark made a low of 57,056 and remained in the red the whole day. Finally, the Sensex dropped 391 points to close at 57,235. The market trend  will now be  based on the US CPI data and Infosys second-quarter  earnings to be released later today.

The NSE NSE Nifty 50 fluctuated wildly between 17,112 and 16,957 before closing at 17,017, down 107 points. 
Along with the benchmark indices, the broader markets also experienced a decrease. The BSE Smallcap index fell 0.4 percent, while the BSE Midcap index fell 0.6 percent.

Wipro was the biggest loser among the Sensex 30 equities, falling nearly 7 percent to Rs 380. After the big IT company lowered its Q3 revenue guidance, the shares likewise fell to a new 52-week low in trading today. 

The other significant losers included SBI, Larsen & Toubro, ICICI Bank, Asian Paints, and Bajaj Finance. After the firm increased its revenue guidance for FY23, HCL Technologies was the best performer on the positive front.

The BSE Bankex and Capital Goods sectors indices experienced the biggest declines, falling more than 1 percent each. The Power and Realty indices both experienced a 1 percent decline. The Healthcare and Metal indices, however, were able to close with nominal gains.

Following the announcement that its board will review a stock split and bonus issue proposal on Monday, October 17, Maharashtra Seamless had one of the biggest intraday gains among all individual shares, rising about 10 percent.

On the BSE, the overall market breadth was fairly negative, with over 2,100 falling stocks as against 1,300-odd advancing shares.

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