Sensex drops by 400 points, IT and pharma stocks drag

Equity benchmark indices retreated from a recent rally on Wednesday amid mixed global cues as investors booked profit in heavyweight stocks.

ANI | Mumbai (Maharashtra) | Updated: 17-02-2021 16:39 IST | Created: 17-02-2021 16:17 IST
Sensex drops by 400 points, IT and pharma stocks drag
Nestle India closed 3 pc lower on Wednesday at Rs 16,700 per share. Image Credit: ANI

Equity benchmark indices retreated from a recent rally on Wednesday amid mixed global cues as investors booked profit in heavyweight stocks. The BSE S&P Sensex closed 400 points or 0.77 per cent at 51,704 while the Nifty 50 cracked by 105 points or 0.68 per cent to 15,209.

Most sectoral indices at the National Stock Exchange were in the red with Nifty IT down by 1.3 per cent, private bank by 0.9 per cent and pharma by 1.7 per cent. But Nifty PSU bank was up by 5.8 per cent. Among stocks, Nestle India cracked by 3 per cent to Rs 16,700 per share on weak December quarter results.

Private lenders HDFC Bank and IndusInd Bank dropped by 2.5 per cent and 2.4 per cent respectively. Bajaj Finserv was down by 2.5 per cent, Maruti Suzuki by 2.5 per cent, Dr Reddy's by 2.1 per cent and Wipro by 1.6 per cent. However, Adani Ports gained by 2.7 per cent to Rs 654 per share after the company said it has completed the acquisition of Dighi Port for Rs 705 crore.

The other gainers were Hero MotoCorp, State Bank of India, Reliance Industries, GAIL, NTPC and ONGC. Meanwhile, Asian shares slipped as investors booked profits after a recent rally. The Nikkei share average fell by 0.87 per cent.

South Korean shares fell after gaining for three consecutive sessions as the number of new Covid-19 cases hitting the highest levels in 39 days weighed on sentiment. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Tracking Fintech during COVID-19: Harnessing power of technology

Its abundantly clear now that as fintech cements its place in the financial sector, accelerated further by the COVID-19 pandemic, it could open the sector to new possibilities by harnessing the power of technology to deliver financial ...

Tectonic turns: How technology shaped healthcare over the decades

Tracing an episodic evolution, with technology at the interface of human and his health....

World Water Day sees crises of inequality in countries both rich and poor

... ...

Privacy and data protection: Reviewing notable policy frameworks

The evolved privacy principles and the resulting legislation across the world primarily aim to force the data collector to define the purpose for which the data is being collected along with the need to obtain explicit consent for the said ...

Videos

Latest News

3 children found fatally stabbed in Los Angeles apartment

A woman discovered her three grandchildren, all under the age of five, slain inside a Los Angeles apartment Saturday morning and their mother gone, police said. The mother, considered a suspect, was being sought by authorities.The grandmoth...

Trump in 2024? He says only that 'a Republican' will win

Former US President Donald Trump plans to affirm his commitment to the Republican Party and raise the possibility that someone else will be the GOPs next presidential nominee in a closed-door speech to donors on Saturday night.Trumps mess...

Jazz drama "Ma Rainey" wins two prizes at BAFTAs opening night

Ma Raineys Black Bottom, a jazz drama set in 1920s Chicago, won two awards at the opening of the BAFTAs on Saturday, but the race for the main prizes remains open with a list of contenders that shines a spotlight on diversity. The British A...

S.Korean battery makers agree last-minute deal in boost to Biden's EV policy

South Korean battery makers LG Chem and rival SK Innovation Co have agreed to settle a trade secrets dispute that has threatened a key Georgia plant and the electric vehicle plans of Ford Motor Co and Volkswagen AG, three sources briefed on...

Give Feedback