Sensex, Nifty End Lower; ITC Falls Over 3% After BAT's Stake Sale
(RTTNews) - Indian shares ended modestly lower on Wednesday, extending losses for a second straight session in the wake of fund outflows due to large block deals and increased primary market activity.
The benchmark 30-share BSE Sensex dropped 239.31 points, or 0.29 percent, to 81,312.32 while the broader NSE Nifty index ended down 73.75 points, or 0.30 percent, at 24,752.45.
The BSE mid-cap index dipped 0.2 percent while the small-cap index rose half a percent.
The market breadth was slightly positive on the BSE, with 1,976 shares rising while 1,961 shares declined and 153 shares closed unchanged.
ITC tumbled 3.2 percent after British American Tobacco plc sold a 2.5 percent stake in the company via block deals, ceding veto power in the cigarettes-to-soap conglomerate. The net proceeds from the sale amounted to Rs 12,900 crore.
Among other prominent decliners, Maruti Suzuki India, Tech Mahindra, Sun Pharma, Asian Paints, Power Grid Corp, Mahindra & Mahindra, UltraTech Cement, Nestle India and IndusInd Bank fell 1-2 percent.
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