Sensex falls 244 points, slips below 37,350

New Delhi: Markets opened on a lower note on Wednesday led by decline in banking and auto stocks.

The BSE Sensex fell 244.30 points or 0.65 percent to 37,337.61 in early trade while the NSE Nifty dropped 59.80 points or 0.54 percent to 11,049.85.

The major losers in the Sensex pack were Bharti Airtel, NTPC, M&M, Maruti, HDFC, HDFC Bank, Infosys, Powergrid, Vedanta, Tech Mahindra, L&T and HUL, falling upto 4.67 percent.

Shares of Reliance Industries limited was the top gainer in the Sensex pack rising 8.26 percent after the company made some major announcements at its 42nd Annual General Meeting that included a USD 75 million Aramco deal, and co becoming zero net-debt in next 18 months. Other gainers included Yes Bank, ONGC, Tata Motors, Sun Pharma and Tata Steel, rising upto 1.77 percent.