Sensex closes 91 points down; SBI, ITC slump

The Indian equities markets key indices closed in the red in a choppy trade on Wednesday as selling pressure in power, metal and PSU banks offset the gains made by the surge in pharma stocks.

The 30 stock S&P Sensex of the Bombay Stock Exchange closed at 57,806.49 points, down 0.16 per cent or 90.99 points from its previous day's close at 57,897.48 points.

Earlier the Sensex opened marginally in the negative at 57,892.31 points but soon surged to a high of 58,097.07 points in the early morning trade. The index remained in the positive terrain most part of the day. The Sensex hit a low of 57,684.58 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange also ended in the red after trading in the positive most part of the trading session. The Nifty 50 closed 0.11 per cent or 19.65 points down at 17,213.60 points when compared with the previous day's close at 17,233.25 points.

The Nifty 50 touched a high of 17,285.95 points and low of 17,176.65 points in the intra-day.

There was good buying support in pharma stocks. Sun Pharma surged 2.86 per cent to Rs.838.30. Dr Reddy's Laboratories jumped 1.66 per cent to Rs.4822.

IndusInd Bank 1.99 per cent higher at Rs.869.65; Titan 0.89 per cent higher at Rs.2401.55; Bajaj Finserv 0.87 per cent higher at Rs.16241.75; and HCL Technologies 0.60 per cent higher at Rs.1292 were among the major Sensex gainers.

Nineteen of the 30 scrips that are part of the Sensex closed in the red. State Bank of India slumped 1.45 per cent to Rs.454.25. ITC dipped 1.43 per cent to Rs.216.80.

Tech Mahindra 1.09 per cent down at Rs.1786.65; Tata Steel 1 per cent down at Rs.1116.10; NTPC 0.89 per cent down at Rs.123.05; Axis Bank 0.76 per cent down at Rs.670.30; Mahindra & Mahindra 0.76 per cent down at Rs.832.35 and Kotak Bank 0.62 per cent down at Rs.1764.65 were among the major Sensex losers.

( With inputs from ANI )

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