Indian share benchmark indices settled lower on Wednesday dragged by selling in metal, auto and private banking stocks. The BSE Sensex declined 290.69 points to 49,902.64, while the Nifty ended 77.95 points lower at 15,030.15. Broader markets closed mixed as smallcap index gained, while midcap index ended in the red.
India, Indian Oil Corporation, Tech M, Axis Bank, and SBI Life were the top gainers of the day, while Tata Motors, HDFC, M&M, JSW Steel, Bajaj Finserv, Bharti Airtel, and Kotak Bank were the top laggards.
Among sectors, Nifty Financial Services, Nifty Metal, Nifty Auto and Nifty Private Bank fell the most, while, gains were seen in pharma, realty, PSU Banks and media indices.
Asian markets declined Wednesday as investors struggled to break out of a long-running cycle of volatility, with optimism over the economic recovery playing off against fears about inflation.
European stocks were all trading weak by over 1 percent on CAC, DAX and FTSE. Asian indices also ended mixed with just Kospi and Hong Kong's Hang Seng leading the list of gainers.
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