Equity indices dip, pharma stocks lose

Equity benchmark indices dipped during early hours on Wednesday despite stable global cues as the US Senate passed a one trillion dollar bipartisan infrastructure bill.

At 10:15 am, the BSE S&P Sensex was down by 219 points or 0.4 per cent at 54,336 while the Nifty 50 ticked lower by 71 points or 0.44 per cent to 16,209.

Except for Nifty metal which rose by 1.7 per cent, all sectoral indices were in the red with Nifty realty down by 2.2 per cent, auto by 0.9 per cent, FMCG by 0.7 per cent and private bank by 0.5 per cent.

Among stocks, Bajaj Auto slipped by 1.6 per cent to Rs 3,735.80 per share. Sun Pharma, Cipla and Dr Reddy's lost by 1.9 per cent, 1.1 per cent and 0.9 per cent respectively.

Bajaj Finance, Kotak Mahindra Bank, Tech Mahindra and Larsen & Toubro too traded with a negative bias. However metal stocks surged with Hindalco clocking gains of 2.4 per cent. JSW Steel rose by 2.3 per cent and Tata Steel by 1.5 per cent.

Meanwhile, Asian stocks were mixed with Japan's Nikkei up 0.49 per cent. Hong Kong stocks rose by 0.21 per cent while South Korea's Kospi dropped by 0.45 per cent.

(ANI)

Also Read: Reliance New Energy Solar Ltd to invest in Ambri Inc