Sensex Down 208 pts, Nifty Below 18,300; Adani Ent Tanks 6%

Sensex Today: The benchmarks ended with decent cuts as investors sold metal, financial, and Adani group shares. Moreover, an impasse over debt-ceiling negotiations in the US, too, weighed on the sentiment.

The S&P BSE Sensex dropped 208 points, or 0.34 per cent, to 61,774 levels on Wednesday, while the NIfty50 shut shop at 18,285 levels, down 62 points or 0.34 per cent.

Adani Enterprises fell over 6 per cent, while Adani Ports, Tata Motors, HDFC, HDFC Bank, ICICI Bank, JSW Steel, BPCL, Hindalco, Bjaja Finserv, Reliance Industries, HUL, Kotak Bank, and Asian Paints declined in the range of 0.5 per cent to 2 per cent.

The broader markets, however, managed to eke out gains with the BSE MidCap and SmallCap indices rising up to 0.13 per cent.

Among sectors, the Nifty Metal index declined 1.58 per cent, followed by the Nifty Financial Services index (0.8 per cent) and the Nifty Bank index (0.66 per cent). On the upside, the Nifty Pharma index added 1 per cent.

Global Cues

Globally, the US markets closed lower overnight as debt-ceiling negotiations saw no progress. Dow Jones, NASDAQ Composite, and the S&P 500 slipped up to 1 per cent.

Asia-Pacific markets, too, mirrored negative moves this morning as Nikkei 225, Kospi, Topix, and the S&P 200 indices declined up to 0.7 per cent.