The Indian markets witnessed a muted start to trading on Wednesday after indices experienced major losses in the previous session a day earlier. The BSE Sensex slipped more than 50 points and traded under 81,500, while the NSE Nifty50 remained almost flat at 24,828, as of 9:20 AM.
As markets progressed, the indices continued to take a hit. As of 9:33 AM, the Sensex tanked over 200 points and stood at 81,328, while the Nifty declined 61 points and inched closer to 24,750.
On the 30-share Sensex platform, ITC emerged as the largest laggard as markets reacted to the conglomerate’s largest shareholder, BAT, announced that it would offload 2.3 per cent of its stake in the company to institutional investors.
Other laggards included Nestle, Titan, M&M, and Maruti. Meanwhile, the gainers included Infosys, Eternal, Bharti Airtel, Tata Motors, and Adani Ports, among others.
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In the broader markets, the Nifty Smallcap 100 index dominated in green and climbed 0.43 per cent, while the Nifty100 inched 0.12 per cent lower. Sectorally, the FMCG index stood as the largest laggard and tanked 1.29 per cent. On the other hand, the Midsmall IT&Telecom index climbed 0.79 per cent in the session so far.
