The Indian Stock Markets on Wednesday ended in red with Nifty going below the 22,700 mark with the Information Technology (IT), Oil & Gas sectors lead the losses. Nifty slipped for a second straight session, ending 50 points lower at 22,698.
\n\nDuring morning trade, the Sensex plunged as much as 995 points, or 1.35%, to an intraday low of 72,603, while the Nifty 50 fell to around 22,497, slipping below the 22,500 mark. At close, Sensex was down 352.64 points or 0.48% to 73,246.03 while Nifty was at 22,698.85, down by 50.90 points or 0.22%.
\n\nSectors like Information Technology, Oil & Gas down 2% each, while Realty, energy, FMCG down 0.5 percent each. However, Auto, Consumer Durable, Media, Pharma up 1% each.
\n\nIndian rupee ended 11 paise lower at 95.23 per dollar against previous close of 95.12.
\n\nBrent crude tumbled 7% to around $102/bbl and WTI plunged 8% to below $94, extending a sharp two-day sell-off as a breakthrough in US-Iran negotiations appeared closer than at any point since the war began.
\n\nContinued foreign portfolio investor outflows, alongside cautious positioning after the monthly derivatives expiry, added to selling pressure.
\n\nVinod Nair, Head of Research, Geojit Investments Limited said, "Domestic equities…
Original source: https://www.timesnownews.com/business-economy
