Mumbai, Oct 21 Benchmark equity indices surrendered their early gains to slip into the red in mid-session trade on Wednesday, with the Sensex plunging 484.98 points as losses in banking and financial stocks outweighed gains in shares of IT companies.
The 30-share BSE Sensex fell 484.98 points, or 0.66 per cent, to 73,367.92 in afternoon trade after surging 829.29 points earlier in the day.
From its intra-day high of 74,682.19 points, the benchmark tanked 1,325.48 points to the day’s low of 73,356.71.
The NSE Nifty also declined 171.25 points, or 0.75 per cent, to 22,717. It had touched a high of 23,120.90 in early trade before falling to a low of 22,702.85.
From the Sensex basket, Bajaj Finance, Eternal, Bajaj Finserv, Maruti Suzuki India, Axis Bank, Trent, Bharat Electronics Ltd, Mahindra & Mahindra, IndiGo, NTPC, Kotak Mahindra Bank and Adani Ports were among the major laggards.
However, Infosys, Tata Consultancy Services, Tech Mahindra, HCL Technologies, UltraTech Cement, Reliance Industries, ICICI Bank and ITC were trading in the green territory.
Asian markets were mixed, with South Korea’s Kospi and Japan’s Nikkei 225 benchmark settling higher, while Hong Kong’s Hang Seng and Shanghai’s SSE Composite index traded lower.
The US markets ended higher on Tuesday.
Brent crude, the global oil benchmark, rose nearly 1 per cent to USD 109.71 per barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,148.64 crore on Monday, while Domestic Institutional Investors bought shares worth Rs 3,201.19 crore, according to exchange data.
On Monday, the 30-share BSE Sensex tumbled 876.37 points to settle at 73,852.90. The broader NSE Nifty dropped 257.20 points to end at 22,888.95.
(PTI News)
