The Indian stock market opened on a firm note this morning on positive global cues, but retreated soon and then slipped into the red as the session progressed, as investors turned wary of building up positions.
The BSE benchmark Sensex, which surged to 19,767.25 in early trades, ended the day with a loss of 20.10 points or 0.1% at 19,639.72, off the day's low of 19,611.27. The Nifty index of the National Stock Exchange closed at 5959.20, netting a small gain of 2.30 points. The Nifty touched a high of 5990.90 and a low of 5953.15 during the day.
Realty stocks, which had some weak spells recently, saw some brisk buying early on, but gave up some gains as the day progressed. Information technology stocks too found good support.
Metal stocks ended off their highs. Select FMCG stocks edged higher. Automobile, healthcare, oil and bank stocks too gave up gains. Power and capital goods stocks ended weak.
Among the gainers in the Sensex, Jindal Steel & Power moved up 2.7%, Maruti Suzuki climbed 1.7% and HDFC surged 1.3%.
Tata Consultancy Services, Hindalco, ITC, Tata Steel, Bharti Airtel and Infosys ended higher by 0.6% - 0.9%.
Kotak Bank ended stronger by 2.3% following an announcement from the bank that it has acquired the business loans portfolio from Barclays Bank Plc., India branch and Barclays Investment and Loan (India).
Ultratech Cement, Ambuja Cements, Bank of Baroda, Cairn India, IDFC, BPCL, ACC, Grasim Industries, Lupin, Sesa Goa, Axis Bank and DLF also closed on a firm note.
Jaiprakash Associates ended 3.5% down. NTPC lost around 2.3%. Larsen & Toubro, Coal India, Siemens, Hindustan Unilever, BHEL, ONGC, State Bank of India, Cipla, ICICI Bank and Bajaj Auto also closed notably lower.
Adani Enterprises ended higher following the company's share sale through stock exchanges mechanism getting fully subscribed.
Thomas Cook, Radico Khaitan, IRB Infrastructure and JB Chemicals moved higher on stock specific news.
Midcap and smallcap stocks were mostly subdued on Wednesday. The market breadth was marginally positive.