Equity markets witnessed a wave of selling in IT and FMCG stocks on Wednesday with key indices being dragged down by heavyweight Reliance Industries.
The BSE S&P Sensex closed 264 points or 0.54 per cent lower at 48,174 while the Nifty 50 slipped up by 53 points or 0.38 per cent to 14,146.
Sectoral indices at the National Stock Exchange were mixed with Nifty IT down by 1.3 per cent and FMCG by 1.1 per cent. Nifty metal, however, rose by 1.3 per cent.
Among stocks, Reliance Industries lost by 2.6 per cent to Rs 1,914.95 per share. FMCG majors ITC and Hindustan Unilever retreated by 2.9 per cent and 1.4 per cent respectively.
IT stocks too suffered with Tata Consultancy Services down by 1.3 per cent and HCL Technologies by 1.6 per cent. Bajaj Finance, Axis Bank, Eicher Motors and Bajaj Auto, too, traded in the negative terrain.
But Power Grid Corporation added gains of 4.4 per cent to close at Rs 196.25 per share. The others, which gained were Hindalco, JSW Steel, ONGC, GAIL, ICICI Bank and Bharti Airtel.
Meanwhile, global stock prices slipped as investors braced for the prospect that Democrats could win both races in a US Senate run-off election in Georgia, handing them control of the crucial chamber.
Japan's Nikkei fell by 0.38 per cent while South Korea's Kospi tumbled by 0.75 per cent.
( With inputs from ANI )
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