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The benchmark indices ended marginally lower with Nifty failed to hold above 24,450. In the broader markets, the BSE MidCap index gained 0.68 per cent, and the BSE SmallCap index rose 2 per cent. The Sensex and Nifty hit intraday lows of 79,750 and 24,307, respectively before ending off their day's lows.

Meanwhile, Asian stocks struggled for direction before closing mostly lower on Wednesday after the release of disappointing earnings from Tesla and Alphabet. Hong Kong's Hang Seng index fell 0.91 percent to 17,311.05. Taiwan financial markets were closed due to a typhoon.

Whereas European stocks were moving lower on Wednesday as a survey showed business activity in the eurozone slowed further in July, signaling a "near-stagnation" and raising concerns about economic recovery.

On the other side oil prices rose on Wednesday, snapping three straight sessions of declines after industry data showed a draw in U.S. inventories for a fourth consecutive week.

Among sectoral indices, Nifty Media index climbed 2.5 per cent, and the Nifty Pharma, and Realty indices 0.7 per cent each. The Nifty Bank index, on the contrary, fell 0.89 per cent.

On the corporate front, shares of Suzlon Energy hit the upper circuit for the second straight day, up 5 per cent at Rs 60.71 after the company reported solid set of June 2024 quarter (Q1FY25) results. Shares of Mahanagar Telephone Nigam Limited (MTNL) hit an over 14-year high of Rs 88.06, gaining 5 per cent on the BSE in Wednesday's intraday trade.

The 30-share benchmark ended at 80148.88 down by -280.16 points or by -0.35 % and then NSE Nifty was at 24413.5 down by -65.55 points or by -0.27 %. Sensex touched intraday high of 80519.58 and intraday low of 79750.51 The NSE Nifty touched intraday high of 24504.25 and intraday low of 24307.25.

The top gainers of the BSE Sensex pack were Mahindra & Mahindra Ltd. (Rs. 1534.40,+2.71%), NTPC Ltd. (Rs. 392.55,+2.67%), Tata Motors Ltd. (Rs. 1027.65,+2.63%), Sun Pharmaceutical Industries Ltd. (Rs. 1619.75,+1.08%), Power Grid Corporation of India Ltd. (Rs. 337.15,+0.94%), among others.

The top losers of the BSE Sensex pack were Bajaj Finserv Ltd. (Rs. 1578.45,-2.43%), Axis Bank Ltd. (Rs. 1239.75,-1.83%), Bajaj Finance Ltd. (Rs. 6610.10,-1.81%), Hindustan Unilever Ltd. (Rs. 2716.80,-1.80%), Adani Ports & Special Economic Zone Ltd. (Rs. 1484.45,-1.58%), among others.

Power index was at 7921.11 up by 96.76 points or by 1.24%. Suzlon Energy Ltd. (Rs. 60.71,+5.00%), CG Power and Industrial Solutions Ltd. (Rs. 696.30,+2.91%), NTPC Ltd. (Rs. 392.55,+2.67%), Torrent Power Ltd. (Rs. 1522.40,+2.03%), Power Grid Corporation of India Ltd. (Rs. 337.15,+0.94%),.

On the flip side, Bankex index was at 58783.97 down by -570 points or by -0.96%. Axis Bank Ltd. (Rs. 1239.75,-1.83%), State Bank of India (Rs. 852.25,-1.35%), Kotak Mahindra Bank Ltd. (Rs. 1746.10,-1.31%), IndusInd Bank Ltd. (Rs. 1397.15,-1.08%), HDFC Bank Ltd. (Rs. 1604.70,-0.82%),.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 4265 , shares advanced were 2916 while 1207 shares declined and 142 were unchanged.