Sensex dives 283 points, metal and IT stocks drag

Equity frontline indices closed lower on Wednesday after a volatile trading session with metal and IT stocks witnessing selling pressure.

The BSE S&P Sensex closed 283 points or 0.54 per cent lower at 52,306 while the Nifty 50 dipped by 86 points or 0.54 per cent to 15,687.

Except for Nifty auto, all sectoral indices at the National Stock Exchange were in the red with Nifty metal cracking by 1.1 per cent, IT by 0.9 per cent and pharma by 0.5 per cent.

Among stocks, Adani Ports slipped by 3.3 per cent to Rs 718.55 per share. Wipro dipped by 2.9 per cent, Tata Consultancy Services by 1 per cent, JSW Steel by 1.4 per cent and Tata Steel by 0.9 per cent.

However, Maruti Suzuki gained by 2.3 per cent to close at Rs 7,432.10 per share. Hero MotoCorp, Eicher Motors, Cipla, Britannia and Bajaj Finserv also traded in the green.

Meanwhile, Asian stocks traded higher following a strong performance on Wall Street overnight.

Hong Kong's Seng Index was up by 1.79 per cent while South Korea's Kospi gained by 0.38 per cent. But Japan's Nikkei dipped by 0.03 per cent as transport stocks capped gains.

( With inputs from ANI )

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