Indian stock markets ended the day negatively on Wednesday (July 16) on the back of heavy selling pressure witnessed in realty, auto, metal, banking and power stocks.

After opening the day at 12,740.78 (July 16), the 30-share Index, Sensex continued to trade strongly due to sustained buying action across the board.

Afterwards, the index lost all its strength and slipped into the negative terrain.

Midcap and Smallcap index turned down 1.46% and 1.66% respectively.

The major draggers on the index were DLF, Jaiprakash Associates, M&M, HDFC, Tata Steel and TCS.

The majority of Asian stocks fell on Wednesday, led by mining and energy companies as oil dangled to $138.74 per barrel on Tuesday, which put pressure on their earnings.

Finally, the Sensex closed at 12,575.80, down 100.39 points, while the broad-based NSE Nifty closed after making a loss of 44.40 points at 3,816.70.

The stock market experienced 812 advancements as against 1,801 declinations.

All sectoral indices at BSE were closed on a negative note, led by Realty (6.31%), Auto (2.38%), Metal (2.37%) and Bankex (1.96%).

Stock market analyst Vishwas Agarwal said, “Political turmoil and global market downturn caused the uncertainty among investors and traders. Hence market is unable to sustain at higher level.”

Mr. Vishwas suggested investors to keep away from the stock market until the declaration of any big corporate result and the settlement of existing political crisis.

Thus, there would be some relief in market if these two events show positive signal.

“BSE 12,345 and Reliance 1,946 and 1,875, these two vital supports if achieved will give a good support or form a bottom which will help market in coming days,” Mr. Agarwal added.