Stock Market Highlights: Closing Bell: Markets trade in red, NIFTY50 trades at 22,443, SENSEX back in red loses around 30 points

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The NIFTY Midcap 100 index (+0.52%) closed lower today. Meanwhile, NIFTY Smallcap 100 Index (+1.16%) outperformed to close in green on Wednesday.

The BANK NIFTY (+0.17%) index closed in green. Buy sentiment in PNB Bank, HDFC and Axis Bank pulled up the index.

Benchmark Indices– NIFTY50 (-0.03%) and SENSEX (-0.04%) - close in red on Wednesday building on weak opening in the morning. Out of the NIFTY50 space, 28 stocks are declining. SRM Contractors & Brahmaputra Infrastructure hit upper circuit; Kotak Bank and Nestle India are among top losers.

Shares of Tarachand Infralogistsic limited rose 3.60 % and are currently trading at ₹195.80. The company announced receipt of contract for deployment of various lifting capacity cranes at the Ambuja Cement Plant (Adani Group) in Chattisgarh. The total contract value stands at ₹6.84 Crores and it is expected to be executed within FY2024-25.

Inox India shares rose 2.41% to ₹1,230.75 on NSE. The company announced it has received a patent from the Patents Office for a method for suspending inner vessels of dewar type container to store cryogenic fluid.

Shares of Brahmaputra Infrastructure get locked in upper circuit on BSE. The company announced it has received river protection work of a total amount ₹69.96 crores from the Water Resource Department, Guwahati. The contract has a time period of 36 months.

Shares of Anupam Rasayan rose 2.34% to ₹908.15 on NSE. The company on Tuesday announced it has entered into a Letter of Agreement with a Japanese multinational worth ₹743 crores over the next 7 years. The LOI covers supply of two advance intermediates using fluorination chemistry, which will begin from FY 2024-25.

Benchmark Indices– NIFTY50 (-0.01%) and SENSEX (+0.03%) - trade in mix on Wednesday afternoon. Out of the NIFTY50 space, 31 stocks are declining. SRM Contractors hits upper circuit after debut; HDFC bank and Nestle India are among top losers in early afternoon trade.

Shares of SRM Contractors made a tepid debut on the stock exchanges on Wednesday. The stock opened at a premium of 2.5% at ₹215.25 against the issue price of ₹210 per equity share on the NSE. Stock hits upper circuit and freezes at ₹226.00 on the exchange.

Click here to read more: SRM Contractors listing: Shares list at premium of 2.5% to IPO price on NSE