The market is slipping fast as the Sensex is down 85.17 points or 0.3 percent at 25731.19. The Nifty is down 33.30 points or 0.4 percent at 7881.40. About 1089 shares have advanced, 1020 shares declined, and 133 shares are unchanged.
Tata Steel, Hindalco, Axis Bank, Coal India and ONGC are top gainers while M&M, TCS, Reliance, Maruti and Sun Pharma are major losers in the Sensex.
Oil prices resumed their fall in Asia after petroleum workers called off a strike in key OPEC producer Kuwait, quashing hopes the disruption could help ease a persistent supply glut.
Curtailed production resulting from the three-day strike in OPEC's fourth biggest member led prices to rise Tuesday, ending a four-day losing streak. But prices resumed their decline after the Kuwait Oil Workers Union today ended their mass action and decided to return to work, hours after a fresh appeal by the acting oil minister
Buzzing: Credit rating agency CRISIL shares gained more than 13 percent intraday Wednesday after reporting strong earnings growth in January-March quarter. Consolidated net profit grew sharply by 40 percent year-on-year to Rs 78.6 crore and revenue increased by 16.6 percent to Rs 358.7 crore in last quarter of financial year 2015-16. "The quarter saw a strong growth in risk and analytics and financial research businesses under global research and analytics vertical while performance of India focussed businesses remained subdued because of weak investment demand & credit growth," Ashu Suyash, MD & CEO said.
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