Markets give up early gains; Sensex falls 276 points
The Hindu
Among the Sensex firms, Larsen & Toubro, Bajaj Finserv, NTPC, Bajaj Finance, Maruti, PowerGrid, Infosys and ITC were among the prominent laggards.
Benchmark indices pared early gains and declined for the fourth day running on Wednesday, with the Sensex falling 276.46 points amid selling in index majors Infosys and Reliance Industries.
Foreign institutional investors remaining in selling mode and jump in crude prices also weighed on sentiment.
Despite a firm start, the 30-share BSE Sensex failed to carry forward the momentum and ended at 54,088.39, lower by 276.46 points or 0.51 %. During the day, it tumbled 845.55 points or 1.55 % to 53,519.30.
Similarly, the NSE Nifty dipped 72.95 points or 0.45 % to settle at 16,167.10.
"Indices displayed extreme volatility today ahead of CPI and IIP data this week. The market breadth was very weak with several stocks in the broader market taking a big knock...," said S. Ranganathan, Head of Research at LKP Securities.
Among the Sensex firms, Larsen & Toubro, Bajaj Finserv, NTPC, Bajaj Finance, Maruti, PowerGrid, Infosys and ITC were among the prominent laggards.
In contrast, Axis Bank, IndusInd Bank, HDFC, ICICI Bank, Kotak Mahindra Bank, HDFC Bank and Bharti Airtel were among the gainers.
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