Closing Updates- Stock Market settles lower in choppy trade

Indian share markets halted their 3-day up-move as gains triggered by Kotak Mahindra Bank, HDFC Bank and ITC, amidst US Federal view on interest rates, inflation and the economy. The BSE Sensex closed at 35,176.42 up by 16 points while the NSE Nifty50 index fell 21 points to 10,718.05. 

Shares of ITC, HDFC twins, Reliance Industries Limited and Kotak Mahindra Bank gained up to 4%. On the other hand, shares of Vedanta, Tata Steel, HCL Technologies, Yes Bank fall. 

Auto stocks fell with Escorts Ltd (down 1.80%) and Ashok Leyland (down 1.82%), Maruti Suzuki (-0.79%), Hero Motor Corp (-1.91%), Mahindra and Mahindra (-1.34%) fell. 

FMCG Company Marico Limited fell 4.79% on Wednesday as the company’s consolidated net profit edged up 7% year-on-year.  

Top five Sensex gainers were Kotak Mahindra Bank, ITC, Asian Paints, HDFC and HDFC Bank, while the top losers include Tata Steel Ltd, ICICI Bank, Hindustan Uni Lever, Sun Pharma and State bank of India. 

Nifty Metal index fell 3.43 percent, followed by Nifty realty 2.00 percent, Nifty PSU 2.49 percent and Nifty infrastructure 0.67 percent.

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