Broader market stocks saw heavy selling, with one time advance-decline ratio rising to 1:8 levels. However, clarity on newly enacted rules from BSE helped recover some losses.
While Zomatos management comment was highlighting how it used the bad news of being tagged the worst employer in the gig economy into motivation to improve its human resource management, investors read it in an entirely different way.
At Wednesday s low of 16,162, Nifty50 slipped into the bullish gap zone at 16,176-146 level registered on August 4, before staging a recovery. Analysts believe the NSE barometer is in for some more consolidation.