Equity benchmark Sensex plummeted 85 points on Wednesday, tracking losses in ITC, HDFC twins and Infosys amid a mixed trend in global markets. At close, the  BSE Sensex ended 85.40 points lower at 51,849.48, while the broader NSE Nifty inched higher by 1.35 points to 15,576.20.

IndusInd Bank, PowerGrid, Reliance Industries, Bajaj Auto and Maruti were among the gainers in the Sensex pack, whereas on the downside, ITC was the top loser, falling nearly 3 percent, followed by Tech Mahindra, Axis Bank, Asian Paints, TCS, HCL Tech, HDFC and Kotak Bank.

On the Nifty, significant gainers were UPL, Adani Ports, IndusInd Bank, SBI Life Insurance, and HDFC Life, while significant losers included ITC, Tech Mahindra, HDFC, Axis Bank, and Kotak Mahindra Bank.

As the RBI’s  MPC meeting begins today, banking stocks were really flat. The day's leading losers were heavyweight private bank equities, which countered gains from state-owned banks.  In the policy, RBI is expected to focus on economic growth by maintaining the status quo on policy rates and ensuring liquidity while keeping an eye on the inflationary pressure due to rising commodity prices.

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