News · ibtimes.com.au

Nifty 50 Slips Below 22,750 as Midcap and Smallcap Selloff Deepens, Investors Lose Ground for Second Session

The Nifty 50 closed down 150.50 points (0.66%) at 22,738.45, after a strong open gave way to steady selling, while the Sensex fell 0.46%. Losses were heavier in smaller stocks, with the Nifty MidCap 100 down 1.82% and the SmallCap 100 down 2.48%, and private banks weighed on the market. IT stocks led gains, with the Nifty IT index hitting an eight-month high of 32,348 on Infosys and Tata Consultancy Services. Eternal fell about 4.5% ahead of its results, and eMudhra hit its 20% lower circuit. Jio Platforms' IPO opened Wednesday and was subscribed 2.22 times by mid-afternoon, with institutional demand at 6.72 times, while crude near $98 a barrel and hotter-than-expected U.S. inflation kept investors cautious.

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Original headline: Nifty 50 Slips Below 22 , 750 as Midcap and Smallcap Selloff Deepens , Investors Lose Ground for Second Session

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