Mumbai: After Tuesday’s advance, the key equity indices succumbed to selling pressure yet again as the Sensex shed over 200 points on Wednesday amid record volatility. The ‘fear index’ or the ‘VIX’, indicators of the volatility in the market, jumped to a 52-week high of 29.08 before settling at 28.6. The BSE Sensex lost 203 points or 0.55 percent to 37,114.88 and the Nifty closed 65.05 points or 0.58 percent lower. The broader markets also ended lower. The mid-caps ended 0.67 percent lower and the small-caps declined by 0.45 percent.
“The market slid on profit booking despite an initial extension in yesterday’s rally as investors remained watchful on global trade and liquidity squeeze by FIIs,” said Vinod Nair, Head of Research, Geojit Financial Services. “Rupee strengthened after RBI announced plans to conduct the open market operation. IMD predicted southwest monsoon to start from next month which will be a key trigger for consumption and rural economy,” Nair added. Yes, Bank was the top loser among the Nifty50 stocks, declining over 8 percent. (IANS)
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