Banking and financials led the market decline

The decline in the Indian market on Wednesday was mainly attributed to the banking and financial sector. The Bank Nifty was down 2.2% against the benchmark 1.4% and closed at 24,232. Importantly, however, it still closed above its 23,867 bottoms on Monday and therefore is showing strength against the benchmark Nifty, analysts said.

The Nifty closed 120 points lower at 11,730 on Wednesday. However, on an intra-day basis, it broke the 11,711 marks on Monday and the 11,684 level. While the Bank Nifty traded well above its Monday level. However, individual banking and NBFC shares saw a significant decline of up to 3 percent. This mainly involves private sector banks. Among the names that showed high decline were IndusInd Bank, Federal Bank, ICICI Bank, Lakshmi Vilas Bank, etc., while ABFC included companies like HDFC, Indiabulls Housing Fi, M&M Finance. According to market observers, Thursday will be an important day. If the benchmark breaks its 11,611 support, further decline in the market is possible. He also said that the Indian market was showing an overreaction to the movement of the US market. Although Dow Jones futures fell 1.2%, Asian markets alone saw a decline of more than one percent in the Indian market. While all other markets were trading moderately positive or negative.

Brent crude down $39.61, Nymex $37.71: Reliance down Rs 23 to Rs 2010

International crude oil prices fell today by 1.5 1.59 a barrel to close at .6 39.61 and Nymex crude was down 8 1.86 to close at .7 37.71. As a result, oil and gas stocks were weakening. GSPL fell by Rs7.75 to Rs194.75, Petronet LNG by Rs6.50 to Rs228.45, Gail India by Rs1.10 to Rs83.10, Reliance Industries by Rs23.50 to Rs2010.70 and HPCL by Rs80.17.

Small, mid-cap stocks continue to sell: 1681 stocks close negative: 217 stocks bearish circuit

Marketbread was negative today as small, mid-cap, cash stocks turned bearish. Out of the total 2787 scrips traded on the BSE, the number of decliners was 1681 and the number of gainers was 951. The only seller in 217 stocks had a bearish lower circuit against the bullish upper circuit in 204 stocks.

MindTree loses Rs 58 in IT-software stocks: Tech Mahindra, HCL, Infosys, Emphases fall

IT-Software Services stocks continued to sell funds today. MindTree fell by Rs 58.45 to Rs 1327.60, Tech Mahindra fell by Rs 24.90 to Rs 803.95, HCL Technology fell by Rs 17.85 to Rs 829.50, Infosys fell by Rs 15.55 to Rs 1076.60, Emphasis fell by Rs 16.84 to Rs 40.81. .37.95 to Rs. 3177.55.

In healthcare stocks, Thyrocare fell by Rs 76 to Rs 1,127: Aarti Drugs, Newland Lab., Syngenta, Dr. Reddy's fell.

The BSE Healthcare Index fell by 261.94 points to close at 19404.15 as funds again offloaded heavily in healthcare-pharma stocks today. Thyrocare fell by Rs 76.35 to Rs 1,127.10, Aarti Drugs by Rs 33.70 to Rs 642.10, Newland Lab by Rs 50.20 to Rs 1118.90, Syngenta by Rs 20.25 to Rs 546.20, Dr. Reddy's Lab by Rs 30 in the second quarter At Rs 762 crore, the stock fell by Rs 150.50 to Rs 4949.80, Shilpa Medi by Rs 12.65 to Rs 443.10, JB Chemicals by Rs 26.90 to Rs 1011.85 and Biocon by Rs 7.65 to Rs 406.35.

Metal index down 178 points: Hindalco, Tata Steel, Hindu. Zinc, Jindal Steel, NMDC declined

The BSE Metal Index fell by 178.56 points to close at 8137.38 on heavy selling by funds in metal-mining stocks. Hindalco down Rs4 to Rs170.45, Tata Steel down Rs8.70 to Rs402.30, Hindustan Zinc down Rs4.50 to Rs210.25, NMDC down Rs1.50 to Rs81.15, Jindal Steel down Rs2.50 to Rs190 Rs 1 fell to Rs 112.65.