Equity markets displayed a mixed performance on Wednesday afternoon, with the Sensex holding onto marginal gains while the Nifty slipped into negative territory. The resilience of technology stocks helped offset broader market weakness.
At mid-day, the BSE Sensex was up 36.30 points or 0.05 per cent at 75,874.66, while the Nifty50 declined 27.25 points or 0.12 per cent to 22,997.40.
The market breadth remained negative, with 3,087 stocks declining compared to 752 advances on the BSE. This indicated widespread selling pressure, especially in the mid and small-cap segments. The Nifty Midcap Select index fell 1.83 per cent, while the Nifty Next 50 dropped 2.08 per cent.
Among the top performers were information technology stocks, with Infosys leading the gains at 2.79 per cent. This was followed by Wipro (2.55 per cent), TCS (2.38 per cent), and Tech Mahindra (2.04 per cent). Sun Pharma also showed strength, rising 1.60 per cent.
On the other hand, several heavyweight stocks witnessed significant weakness. Bharat Electronics dropped 4.19 per cent, Tata Motors declined 3.52 per cent, and Adani Enterprises fell 2.22 per cent. State Bank of India and Adani Ports also faced selling pressure, declining 2.15 per cent and 2.11 per cent respectively.
The banking sector exhibited weakness, with the Nifty Bank index falling 0.85 per cent to 48,156.20, while the Nifty Financial Services index declined 0.68 per cent to 22,396.00.
Market volatility remained high, with 344 stocks hitting their lower circuit limits compared to 160 stocks reaching upper circuits. Additionally, 132 stocks touched their 52-week lows, while 71 stocks reached their 52-week highs.
The day started positively on the back of favorable global cues and renewed interest in AI investments. However, selling pressure emerged as the day progressed, mainly impacting the broader market segments and sectors like banking and automobiles.
Overall, the market exhibited a cautious sentiment among investors, with a mix of highs and lows across various segments.
