Stock market update: Sensex and Nifty close lower as metal and power equities decline

Stock market update: Following a selloff in companies related to consumer durables, metals, and power in the midst of a negative trend in global equities, the equity benchmarks Sensex and Nifty gave up early gains to settle in the red on Wednesday.

The rupee's appreciation against the US dollar and the unabated entry of foreign capital enabled the indices, according to traders, to limit the losses.

The 30-share BSE Sensex ended lower by 151.60 points, or 0.25 percent

The 30-share BSE Sensex closed 151.60 points or 0.25 percent lower at 61,033.55 in a session that was generally range-bound. The index had significant volatility near the day's end, reaching a high of 61,447.23 and a low of 60,905.15, respectively.

Similar to this, the NSE Nifty, a larger index, lost 45.80 points or 0.25 percent to finish at 18,157.

With a 4.06 percent decline, PowerGrid led the Sensex group of losers, followed by Tech Mahindra, Sun Pharma, Bajaj Finserv, NTPC, and M&M.

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ITC, Dr. Reddy's, Kotak Mahindra Bank, IndusInd Bank, and HCL Tech, on the other hand, were among the winners, rising as high as 1.99 percent.

Domestic equity markets were closed on Tuesday

Because it was Guru Nanak Jayanti on Tuesday, domestic equity markets were closed.

Seoul recorded gains as bourses in Shanghai, Tokyo, and Hong Kong closed in the negative.

European stock exchanges were also engaging in mid-session deals that resulted in losses.

Benchmark Brent crude for world markets was down 0.67 percent at USD 94.72 per barrel.

Rupee Rises 50 Paise To 81.42

A good Stock market update about today was that the rupee gained 42 paise to end the day at 81.50 (provisional) against the US dollar on wednesday.

According to exchange data, foreign institutional investors (FIIs) continued to be net purchasers on Monday, purchasing shares worth Rs 1,948.51 crore.

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