Sensex, Nifty fall for 3rd day on selling in oil, banking & IT shares
The Hindu
Sensex fell by 372.46 points, while Nifty declined by 91.65 points
Benchmark equity indices Sensex and Nifty reversed their early gains to close lower on Wednesday due to selling in oil & gas, banking and IT stocks amid weak trends in European markets.
The 30-share BSE Sensex declined by 372.46 points or 0.69% to close at 53,514.15, extending its falling streak to a third day.
The index opened higher and touched the day's high of 54,211.22 amid gains in Asian markets. However, it failed to hold onto its gains and dropped over 750 points to touch a low of 53,455.26 as European markets opened lower.
The broader NSE Nifty declined 91.65 points or 0.57% to settle below the 16,000 level at 15,966.65.
Among the Sensex constituents, IndusInd Bank, HDFC, Bharti Airtel, HDFC Bank, Reliance Industries, TCS, Titan and HCL Technologies were the major laggards.
Hindustan Unilever, Asian Paints, Sun Pharma, Kotak Mahindra Bank, NTPC and Nestle were the major gainers.
"Strong domestic macro numbers and a fall in crude prices lifted Indian indices to open in positive territory while the gains were restrained by Europe’s negative market trend.
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