Indian stock market ended in red on Wednesday's session. BSE Sensex fell 372 points to 61,561 and Nifty 50 105 points to 18,182. Nifty Bank fell 105 points to 43,699 and midcap index 30 points to 32,763.

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The top gainers on Nifty 50 were Hero Motocorp, ITC, Indusland Bank, UPL and Bharti Airtel. While the top losers on the Nifty 50 were Kotak Bank, Apollo Hospitals, SBI Life, TCS and HCL Tech.

Shares of LIC Housing declined 6 percent as disbursals slipped both quarter-on-quarter and year-on-year.

"Global jittery spooks domestic indices. Nifty opened positive but soon gave up its gains for the second consecutive day to close with a loss of 105 points (-0.6 percent) at 18182 levels. Except for FMCG and Auto, all sectors ended in the red. Nifty smallcap 100 outperformed and closed with gains of +0.6 percent. Global markets are seeing a selloff as the debt ceiling negotiations continue. Investors remain cautious as the US faces the possibility of defaulting at the start of June. On the domestic front, Nifty is now facing resistance at ~18300, after moving in the last few days. We expect some consolidation over the next few days before a fresh leg of the rally starts," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Also read: Adani-Hindenburg Row highlights | SEBI granted extension of time till August 14

ITC and SBI Bank shares closed the session with minor gains ahead of Q4 earnings to be released tomorrow. Adani Group stocks closed mixed as the Supreme Court passed an order to give the Securities and Exchange Board of India extension till August 14 to complete the probe on Adani-Hindenburg row.

Also read: Stock Market Highlights: Nifty 50 closes at lowest since May 8, Sensex down 300 points

First Published:May 17, 2023 3:45 PM IST