Markets snap 3-day rally, Sensex falls nearly 190 points

New Delhi: After three days of rally, markets closed in the negative zone on Wednesday led by losses in banking and financial stocks.

The BSE Sensex fell 189.43 points or 0.50 percent to 37,451.84 while the NSE Nifty closed 60.50 points or 0.54 percent to 11,046.10.

Major losers in the Sensex pack were Yes Bank, Vedanta, Tata Steel, Tata Motors, ONGC, M&M, Maruti, NTPC, HUL, IndusInd Bank, Heromoto Corp and Kotak Bank, falling upto 7.47 percent. On the other hand, shares of HCL Tech, Infosys, Tech Mahindra, HDFC, TCS and Asian Paint were major gainers, rising upto 2.61 percent.

Markets have seen an upward rally since last Friday after Finance Minister Nirmala Sitharaman announced slew of measures to revive economic growth that included the most awaited rolled back of the enhanced surcharge on foreign portfolio investors (FPIs).

This was followed by announcement by the RBI that it will transfer Rs 1.76 lakh crore surplus to the government.

In the previous session on Tuesday, the Sensex closed at 37,641.27, higher by 147.15 points or 0.39 per cent while the Nifty settled at 47.50 points or 0.43 per cent higher at 11,105.35.