On Wednesday, the Indian equity markets ended lower on the second consecutive day, as the US markets dipped over the concerns expressed by Fed Governor Lael Brainard as well as Fed President Mary Daly, who hinted at the speedy tightening of inflation by hiking the rates.

Activity in the F&O market for the weekly expiry tomorrow shows 17500 to act as support now.

The domestic equities moved in sync with US markets to close in the negative, fuelled by investors’ expectation of stringent interest rate decisions by the Fed. The market closed lower for the second successive day, dragged down by IT and financial sector stocks. NSE's India VIX, a gauge of market volatility, went up by 2.89 per cent to 19.02 levels.  

OnMobile Global, Yes Bank and South Indian Bank witnessed positive action in today’s session.

Today, when the equity market saw corrections, BSE Sensex was down by 566 points. In spite of that, the stock of Tata Power gained 5.5 per cent. The below-listed factors led to the demand for Tata Power shares.

BSE Smallcap index outperformed broader markets, ending in the green territory at 29,695.94, up by 0.38 per cent.

Indices closed lower on Wednesday. Nifty closed at 17,807.65, down by 0.83 per cent while Sensex lost about 566 points.

The company has proposed company's board split equity shares of the face value of Rs 5 each into equity shares of the face value of Re 1 each.

In environments of rising yields and higher inflation expectations, value stocks are placed better than growth stocks, asserts Meenakshi Dawar, Fund Manager, Nippon India Mutual Fund.

Container Corporation of India Ltd, IDBI Bank and Indian Hotels Company Limited are today’s mid-day movers