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Selling was concentrated in pharma, realty and private banks while auto names provided some support to the market as traders are pricing in normalisation of chip shortage across carmakers.

The Relative Strength Index of the stock stood at 64.74 on Wednesday.

On the technical charts, the 200-day moving average of the stock stood at Rs 232.82.

Over the past week, Musk has sold about 8.2 million Tesla shares for around $8.8 billion. Those sales fulfill almost half of his pledge on Twitter to sell 10% of his stake in Tesla.

On the technical charts, the 200-day moving average of the stock stood at Rs 491.03.

Benchmark oil prices have surged to multi-year highs over $86 a barrel, and some economists warn crude could surpass $100 a barrel, threatening the recovery.

Promoters held 41.73 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 26.83 per cent and 0.34 per cent, respectively.

A day ahead of its listing, shares of Paytm on Wednesday exchanged hands at a discount of Rs 20-25 in the unofficial market, compared with its issue price band of Rs 2,080-2,150.

The blue-chip CSI300 index rose 0.1% to 4,885.75, while the Shanghai Composite Index gained 0.4% to 3,537.37 points.

A total of 70,586 shares changed hands on the counter till time (IST).