Sharp decline in markets on Monday in line with broader selloff in global equities amid concerns over US Fed's upcoming meeting where it is likely to signal a rate hike, balance-sheet reduction
However, the Nifty50 remains the top performer on a one- and two-year basis
The frontline S&P BSE Sensex crashed nearly 2,000 points intra-day, hitting a low of 56,984. It, however, staged a mild recovery in the fag-end and ended 1,546 points, or 2.6 per cent, lower at 57,491
Stock market LIVE: Sectorally, auto and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results.
In the last three sessions, the Sensex has lost 1,844 points, or 3 per cent
The BSE Sensex has shed 1,844 points from Monday's close ending at 59,464 level today, way below the 60K-mark.
Analysts, however, expect markets to recover from here on as they have reached their key support zones.
Stock market LIVE: Sector-wise, only Auto, metals and energy stocks were trading higher. Meanwhile, Nifty IT index, down nearly 2 per cent , was still the biggest loser. .
According to Vinay Rajani of HDFC Securities, Nifty has got strong support at 17,944. High of 18,350 registered on Tuesday could act a short term resistance for the index.
In the intra-day trade, the indices hit a low of 60,662 and 18,086, respectively
In a largely range-bound session, the 30-share BSE Sensex ended 85.88 points or 0.14 per cent higher at 61,308.91
In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks and ended up to 0.6 per cent higher.
They generated average returns of 40%, against the Nifty's 24%
TCS, Infosys, L&T, Tech M, and HDFC Bank were the top gainers on the Sensex today.
Among sectors, the Nifty Metal index zoomed 3.5 per cent on the NSE today while the Nifty Realty index slumped 0.8 per cent
Realty index surges over 3%; Wipro reports Q3 net profit flat at Rs 2,969 cr, declares interim dividend of Re 1; Infosys Q3 PAT rises 12% to Rs 5,809 cr, raises FY22 revenue guidance
The BSE Midcap and Smallcap indices gained 1 per cent and 0.7 per cent, respectively. Telecom stocks logged smart gains after telcos pitched for 90-95 per cent cut in 5G spectrum auction prices
The benchmark Sensex ended the session at 60,617 - a gain of 221 points, or 0.4 per cent
Dalal Street may not sustain the record run it had from the middle of 2020 as the new year will see bouts of corrections leading to tepid gains given the many downside risks to a sustained rally
The broader markets were quiet today with the BSE MidCap and SmallCap indices ending little changed