Sensex, Nifty fell from intraday high levels.
The domestic equity benchmarks (Sensex and Nifty) erased early gains as oil gas, energy, auto and banking shares came under selling pressure.
The SP BSE Sensex declined as much as 298 points from day's highest level of 38,564.71 and the NSE Nifty 50 Index fell as much as 91 points to trade below psychologically important level of 11,500.
Losses in blue-chip stocks like Reliance Industries, HDFC Bank, Tata Consultancy Services (TCS), ITC and ICICI Bank were seen exerting pressure on the benchmark indexes.
Here are ten things to know:As of 11:00 am, the Sensex traded 0.18 per cent or 69 points lower at 38,318 and the NSE Nifty 50 Index was down 0.18 per cent or 21 points at 11,598.Eleven of 19 sector gauges compiled by BSE were trading lower led by the SP BSE Energy Index's 0.94 per cent decline.
Oil gas, healthcare, auto, telecom and information technology indexes also declined between 0.3 and 0.7 per cent each.On the other hand, capital goods, realty, power, consumer durables and industrial shares were trading higher as the respective indexes rose between 0.5 and 1.2 per cent each.Mid- and small-cap shares were also witnessing mild selling pressure as both the indexes erased early gains and were trading marginally lower.In the Nifty 50 basket of shares 29 were declining while 21 were advancing.Hindustan Petroleum, Bharti Infratel, Zee Entertainment, Bharat Petroleum, Indian Oil, ONGC, Maruti Suzuki and Reliance Industries were among losers in the Nifty 50 basket of shares.On the other hand, Larsen Toubro, Titan, NTPC, Yes Bank, Indiabulls Housing Finance, JSW Steel Tata Steel and Hindalco were among the gainers.The overall market breadth turned negative as 1,207 shares were declining while 965 were gaining on the BSE.The foreign institutional investors continue to buy shares in Indian equity markets.
In Wednesday's session alone the foreign portfolio investors bought shares worth Rs.
1,771.61 crore, according to National Stock Exchange.In Wednesday's session, the Sensex and Nifty took a breather after a seven-day up move as they ended little changed owing to weekly expiry of derivative contracts.Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections.
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