Sensex, NIfty Reveres From Highs On Profit Booking

Equity benchmark indices on Wednesday pared the gains created through morning session and ended on negative territory on closing hours, ahead of RBI’s monetary policy result scheduled for Thursday. 

The Sensex closed at 38,877.12, down 179points, with major gains in Maruti, HCL Tech, HDFC and Tata Steel. Among the top losers on Sensex were in SBI, Yes Bank and Bharti Airtel. 

On the Nifty50 index, Indiabulls Housing, Maruti, Bajaj Finserve, HCL Tech and Tata Steel were top gainers.  The Nifty index losers were BPCL, Zeel, IOC, Gail and SBI.

All sectoral indices on the Nifty ended in the red, with maximum selling pressure recorded in Nifty PSU Bank and media stocks, down by 2.72% and 2.34%, respectively.

Nifty’s PSU bank index, slipped 2.72% at 3,332.10 led by major falls in Syndicate Bank and Union Bank over 4%

Oil marketing companies such as IOC, HPCL and BPCL closed 3 to 5% lower as Brent futures hit near 5-month highs.