Sensex Closes Lower For Fourth Consecutive Day, Bajaj Finance Biggest Loser, Sun Pharma Biggest Gainer

Sensex and Nifty closed lower for the fourth consecutive session on Wednesday with investors awaiting cues from the U.S. Federal Reserve on the rate at which tapering would be undertaken. The concern follows after the U.S. inflation rose to its highest level since 1982 at 6.8 per cent in 2021. The concerns were accompanied by index heavyweights such as Infosys, Bajaj Finance, Tata Consultancy Services and HDFC - all closing in the red. 

On Wednesday, Sensex shed 329.06 points as it closed 0.57 per cent lower at 57,788.03. The Nifty 50 closed 10.3.50 points or 0.6 per cent lower at 17,221.40. 

Bajaj Finance was the biggest loser on the Sensex, closing 3.10 per cent below its previous close. Bajaj Finserv, ITC, TCS, Titan, HCL Tech, HDFC, Tata Steel and Infosys were the other prominent stocks that closed in the red. 

Sun Pharma emerged as the top gainer in the Sensex pack. It closed 2.59 per cent above its previous close. Kotak Bank, Mahindra & Mahindra and Maruti too closed in the green on the Sensex. 

On the NSE too, Sun Pharma was the top gainer - closing 2.77 per cent above its previous close. Bajaj Finance was the top loser on the NSE too - closing 2.93 per cent below its previous close. 

Kotak Bank and Maruti closed in the green on Nifty 50 whilst Bajaj Finserv, Adani Ports, ITC and PowerGrid closed in the green. 

Elsewhere in Asia, bourses in Shanghai and Hong Kong ended with losses, while Tokyo and Seoul were positive.

Stock exchanges in Europe were also trading on a mixed note in mid-session deals.

Meanwhile, international oil benchmark Brent crude fell 0.90 per cent to $73.04 per barrel.

The rupee fell 40 paise to close at a 20-month low weighed down by muted trend in domestic equities, consistent foreign fund outflows and risk-averse sentiments surrounding the local currency. 

At the interbank foreign exchange market, the rupee opened lower at 76.05 a dollar and later fell to a low of 76.28, down by 40 paise over the previous close. It had last closed at the level on April 24, 2020. 

(With inputs from PTI)