Stock market recap: Benchmark indices fell on Wednesday, as selling in IT stocks and Reliance Industries weighed on sentiment amid rising crude oil prices and caution ahead of the US Federal Reserve’s policy decision.
The Sensex closed at 73,246.03, down 352.64 points, or 0.48%, while the Nifty fell 50.90 points, or 0.22%, to settle at 22,698.85.
Broader markets, however, advanced on selective buying. The BSE SmallCap Select index rose 0.85%, while the MidCap Select index gained 0.66%.
Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a strong stock market debut on Wednesday. The stock ended nearly 27% above its issue price of ₹1,119, making Jio Platforms India’s second-most valuable listed company after Reliance Industries, with a market capitalisation of about ₹13 trillion.
Indian equity markets ended Wednesday lower, with the Nifty 50 falling 50.90 points, or 0.22%, to 22,698.85 amid sectoral weakness and selective buying. The index swung between an intraday low of 22,497.70 and a high of 22,778.05 before settling below its previous close of 22,749.75.