Sensex tanks by over 140 points, Nifty ends at 17,322
India Today
Nifty 50 index fell 0.17 per cent or 30.25 points to 17,322, while the S&P BSE Sensex ended 0.25 per cent or 145.37 points lower at 57,996.68. Both the indexes had gained 3 per cent on Tuesday.
The share market closed in the red on Wednesday, weighed down by banks, as investors turned cautious after a massive rally in the previous session while keeping an eye on Russia-Ukraine tensions.
The NSE Nifty 50 index fell 0.17 per cent or 30.25 points to 17,322, while the S&P BSE Sensex ended 0.25 per cent or 145.37 points lower at 57,996.68. Both the indexes had gained 3 per cent on Tuesday.
Global stocks rebounded on Wednesday in hopes of easing tensions between Russia and Ukraine. But worries lingered as Kyiv appeared to blame Russia for a cyber attack, and U.S. President Joe Biden warned that more than 150,000 Russian troops were still near Ukraine's borders.
"(Indian) Markets are a bit cautious after the sharp rally (on Tuesday)," said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services, adding that concerns over higher inflation and interest rate hikes also lingered.
"There is continuous foreign institutional investor selling, which is keeping a check on the upside. We are seeing selling coming back on any sharp up move."
The Nifty bank index fell 0.6 per cent, while the public sector bank index dropped 1.2 per cent. The sub-indexes rose 3.4 per cent and 4 per cent, respectively, on Tuesday.
Shares in Power Grid fell the most, dropping 3.5 per cent, while ICICI Bank was the major drag on the Nifty, shedding 1.55 per cent.
