NEW DELHI: Equity indices plunged on Wednesday with benchmark BSE sensex falling 400 points dragged by pharma and IT stocks.
The 30-share BSE index fell 400 points or 0.77 per cent to close at 51,704; while the broader NSE Nifty settled 105 points or 0.68 per cent higher at 15,209.
Top losers in the sensex pack included Nestle India, Bajaj Finserv, Asian Paints, IndusInd Bank, Maruti and HDFC Bank with their shares falling as much as 2.80 per cent.
While SBI, PowerGrid, Reliance, NTPC, Bajaj Auto and M&M were the top gainers rising up to 2.78 per cent.
On the NSE platform, sub-indices Nifty Pharma, IT and Financial Services falling up to 1.72 per cent.
“The run-up we have seen late last week and early this week seems to have lost a little bit of steam,” Anand James, chief market strategist at Geojit Financial Services told news agency Reuters.
“Nothing has turned out negative as yet … The mood continues to remain on the positive side and we have foreign institutional investors continuing to pump in more money,” he added.
Meanwhile, foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,144.09 crore on Tuesday, according to exchange data.
(With inputs from agencies)