Shares of IndusInd Bank, Trent, M&M, BEL and Power Grid traded among top gainers of Nifty 50 components, while Tech Mahindra, Cipla, NTPC, Axis Bank and Dr Reddy’s Laboratories dragged.

The stock market witnessed a downtrend on Wednesday, after a recent rally as investors seem to be engaged in profit booking, and uncertainty surrounding US tariff concerns.

Sensex plunged 392.21 pts or 0.50 per cent to 77,624.98 as at 1.08 pm, and Nifty 50 declined 95.45 pts or 0.4 per cent to 23,573.20.

Healthcare, pharma and banking stocks felt the maximum pressure, while auto, consumer durables and metal stocks showed resilience.

Top gainers & losers today

IndusInd shares gained 3.59 per cent, leading the pack of gainers, trading at ₹659.95 on the NSE as at 12.45 pm.

Trent followed with a 3.14 per cent gain to ₹5,347.75.

M&M stock gained 2.07 per cent to ₹2,792.50. BEL rose .23 per cent to ₹303.71 and Power Grid shares were up 1.53 per cent to ₹295.45.

On the losing side, IT major Tech Mahindra declined 2.17 per cent to ₹1,423.90. Cipla fell 1.98 per cent to ₹1,481.30.

NTPC declined 2.07 per cent to ₹359.35. Axis Bank traded 1.73 per cent lower at ₹1,099.15 and Dr Reddy’s Laboratories dropped 1.47 per cent to ₹1,160.60.

Of all the 2,799 stocks that were traded on the National Stock Exchange, only 917 advanced and 1,810 of them declined.

Bharat Gears, Happiest Minds Technologies, Hinduja Global, Rategain Travel were among the 124 stocks that hit a 52-week low on the NSE. Food delivery platforms Swiggy and Zomato also felt the selling pressure on bagging downgrade ratings and target price cuts.

On the BSE, Tourism Finance Corporation and Capri Global shares rallied over 10 per cent. Reliance Infra and Reliance Power also soared 9 per cent.