Ira Singh 
The domestic share market ended on a lower note on Wednesday as a sharp sell-off in the final hour erased all intraday gains pushing the markets into negative territory in a highly volatile session despite broader indices outperformed.At close,the Sensex was down 138.74 points or 0.17 percent at 80,081.98, and the Nifty was down 36.60 points or 0.15 percent at 24,435.50. Bajaj Finance, Bajaj Auto, Tech Mahindra, HCL Tech, Tata Consumer were the top gainers on the Nifty, while losers included M&M, Sun Pharma, NTPC, Power Grid Corp and Shriram Finance.
On the sectoral front,IT index up more than 2 percent, while capital goods, power, pharma down 1 percent each.The BSE Midcap index up 0.5 percent and Smallcap indices up 1 percent.
Rupee Close:
On 23 Oct'24,the Indian rupee settled flat at 84.08 against the US dollar on Wednesday, facing pressure from a stronger American currency as well as relentless outflow of foreign funds.Forex traders reportedly stated the lacklustre sentiment in domestic equity markets and volatile geopolitics ahead of the US Presidential election kept investors on the sidelines.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying, investor mindset turned gloomy with the tepid earnings and a knee jerk reaction from FIIs, which dragged the market sentiment. However, mid and small-caps are experiencing bargain hunting following the recent decline, though the sustainability of this momentum-driven buying remains uncertain. The US 10-year yield inched higher, signalling a slower tempo of rate cuts by the FED, which is poised for a risk-off sentiment towards EMs.
Market experts have recommended to buy these five shares - Unichem Laboratories, Torrent Power, Infosys, TVS Motor, and Apollo Hospitals.
(Business Correspondent)
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