Amid negative global cues, the major stock index Sensex fell over 200 points in early trade on Wednesday. During this period, selling was witnessed in Reliance Industries, HDFC Bank, and L&T.
The BSE Sensex was down by 243.24 points, or 0.63 percent, at 38,163.77, while the NSE Nifty was down 69.660 points, or 0.61 percent, at 11,252.90.
Bajaj Finance was the biggest loser in the Sensex by almost two percent. Besides, L&T, Bajaj Finserv, Sun Pharma, Kotak Bank, HDFC Bank, and Reliance Industries were among the falling stocks.
On the other hand, SBI, M&M, Maruti, Bajaj Auto, and Titan were trading in profits. The Sensex had gained 224.93 points, or 0.59 percent, to close at 38,490.71 in the previous session, while the Nifty jumped 52.35 points or 0.46 percent to close at 11,322.550.
According to the stock market data, foreign institutional investors on Tuesday bought equity of Rs 1,013.66 crore on a gross basis.
According to traders, the closing of the American stock market along with the downward trend weakened the perception of other Asian markets. He said that apart from the weak data of factory production on the domestic front also influenced the sentiments of investors.