Sensex snaps 4-day rally; banking and financials drag

After touching a low of 38,125.81 during the day, the 30-share BSE Sensex pared most losses to end 37.38 points or 0.10 per cent lower at 38,369.63.

New Delhi: The BSE Sensex snapped its four-session winning run to close marginally lower on Wednesday as investors pocketed gains in finance, banking and consumption stocks amid mixed global cues.

The 30-share BSE Sensex pared most losses to end 37.38 points or 0.10 per cent lower at 38,369.63. On similar lines, the NSE Nifty slipped 14.10 points or 0.12 per cent to close at 11,308.40.

Major losers in the Sensex pack were Kotak Bank, Sun Pharma, Bajaj Finserve, LT, Bajaj Finance, TCS, Titan, HUL, HDFC, Bharti Airtel, Nestle and ONGC, falling upto 2.14 percent. On the other hand major gainers were HCL Tech, SBI, Tech Mahindra, Maruti, M&M, NTPC, Ultrachem, Infosys, Bajaj Auto, Axis Bank, Powergrid and Asian Paint, rising upto 4.86 percent. 

BSE healthcare, consumer durables, metal, realty, telecom and FMCG indices fell up to 1.46 per cent, while auto, utilities, power, IT and teck closed higher. Broader BSE mid-cap and small-cap indices slipped up to 0.29 per cent.

Global equities were largely positive despite deadlock over fresh stimulus in the US and the UK slipping into its deepest recession in the June quarter.

In the forex market, the rupee slipped 5 paise to close at 74.83 against the US dollar. 

In the previous session, the Sensex had settled 224.93 points or 0.59 per cent higher at 38,407.01, while the Nifty jumped 52.35 points or 0.46 per cent to finish at 11,322.50.