Closing Bell: Market snaps the three-day winning streak; Sensex slips by 773 points

The key Indian indices discontinued the three-day winning streak to trade with steep losses and closed in red territory.

The key Indian indices discontinued the three-day winning streak to trade with steep losses and closed in red territory. The weak global cues soured investor sentiment as the higher than expected US inflation data increased fears of aggressive and early rate hikes by the US Federal Reserve. IT, PSU banks, and consumer durables stocks were under pressure. 

The BSE Sensex ended the day in red today by 773 points and closed at 58,152.92 falling by 1.31 per cent. The BSE Midcap index plunged by 498 points and ended the day at 24,206.48 levels. Similarly, the BSE Smallcap is also slipped by 577 points and stood at 28,668.60 at day end. The Nifty 50 index also dipped by 231 points and closed at 17,374 levels. The Bank Nifty tanked by 580 points and ended at 38,430.70. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 5.47 per cent to 18.68 per cent. 

The top gainers on the BSE Sensex exchange were Induslnd Bank, NTPC, Tata Steel, and ITC. On the other hand, the top losers on the BSE Sensex exchange were Tech Mahindra, Infosys, UltraTech Cement, HCL Technologies, and Wipro. The total stocks traded today were 3,408 out of which 876 advanced and 2,438 stocks declined. There were 94 stocks that were unchanged. The number of stocks that were locked in an upper circuit is 195 and the number of stocks that were locked in the lower circuit today was 317. Today 149 stocks have made a 52-week high and 39 stocks made a 52-week low today.