Stock Market: Sensex, Nifty Dip; Def Stocks Rally on ‘Space Power’

The S&P BSE Sensex ended 0.26 percent lower at 38,132.88 and the NSE Nifty 50 ended below down 0.33 percent.

Passersby watch the live telecast of Prime Minister Narendra Modi’s address to the nation, on a screen outside Bombay Stock exchange, in Mumbai.

(Photo: PTI)

Indian equity benchmarks ended lower after a one-day rally on Wednesday, 27 March, with Sensex and Nifty failing to extend on the gains made on Tuesday.

The S&P BSE Sensex ended 100 points or 0.26 percent lower at 38,132.88 and the NSE Nifty 50 ended below 11,450, down 0.33 percent, as per PTI.

The NSE Nifty 500 Index, meanwhile, ended 0.11 percent lower.

The market breadth was tilted in favour of sellers, BloombergQuint reported. About 958 stocks fell and 801 shares advanced on National Stock Exchange.

The 30-scrip Sensitive Index (Sensex) had opened on a positive note up 200 points, while the Nifty crossed the 11,500 mark.

The Sensex of the BSE opened at 38,372.03 points and touched a high of 38,456.86 and a low of 38,372.03 points.

Defence Stocks Rally After PM’s ‘Space Power’ Claim

Defence companies also rallied in Wednesday’s trade after Prime Minister Narendra Modi announced that India had joined the elite group of nations that have the capability to target satellites, BloombergQuint reported.

Hindustan Aeronautics, Bharat Dynamics and Nelco all reported gains.

(With inputs from PTI, IANS, BloombergQuint)