Stock market on roller coaster; BSE Sensex ends 45 points down

The stock market was on a roller coaster on Wednesday as the BSE sensex moved up and down during the day amidst concerns over the outcome of Lok Sabha election.

The 30-share index ended little over 45 points down from previous close after seeing a drop of over 200 points during the day.

The BSE Sensex remained negative on Wednesday too, slipping 45.46 points to settle at 73466.39 as gains in Reliance Industries, L&T shares was overshadowed by heavy losses in the private banking and technology stocks.

Meanwhile, as per the data available, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,669 crore in the previous trading session while the Domestic Institutional Investors (DIIs) bought to the tune of Rs 2,304 crore.

According to sources, a multiple factors including uncertainty over the outcome of Lok Sabha election, geo political situation were responsible for the cautious approach by investors.

The National Stock Exchange (NSE) ended flat at 22,302.50.

The Sensex opened in red with a loss of 286 points at 73225. During the day, it dropped 204 points at 73073.92, day’s low before closing at 73,466.39, easing 45.46 points from its previous close.

During the intra-day it had surged 173 points at 73684.93, day’s high. The NSE registered days high and low at 22,368.65 and 22,185.20 points respectively.

Stocks including IT, Bankex and Technology kept the market under pressure. In the 30 scrips, 15 advanced while 15 declined.