Market slide, Sensex drops 434 pts, Nifty fall below 22,100 level

The domestic equity market indices snapped six day winning streak to end on a negative note on Wednesday, amid weak global cues followed by mixed trends in Asian markets.At close, the Sensex was down 434.31 points or 0.59 percent at 72,623.09, and the Nifty was down 141.90 points or 0.64 percent at 22,055.05. About 1227 shares advanced, 2078 shares declined, and 69 shares unchanged.
Tata Steel, SBI, JSW Steel, ICICI Bank and IndusInd Bank were the top gainers on the Nifty, while losers included BPCL, Coal India, Hero MotoCorp, Power Grid Corp and NTPC.On the sectoral front, except realty and PSU Bank, all other indices are trading in the red.BSE Midcap and Smallcap indices fell 1 percent each.
Rupee Close:
On 21 Feb'24,the Indian rupee sustained its upward momentum for the third straight session and gained 6 paise to 82.91 against the U.S. dollar in early trade on Wednesday, tracking a weak American currency and positive equity market sentiment.However, selling pressure from foreign equity investors amid elevated level of crude oil prices resisted a sharp gain in the domestic currency, analysts said.
Trading Guide:
Market experts have recommended nine stocks to buy or sell for Wednesday - Bajaj Finance,Sun Pharma,HDFC Bank, Titan, Lemon Tree,HUDCO, Power Grid,Cigniti Technology, Shilpa Medicare.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)