New Delhi, March 27 (IANS) The key Indian equity indices settled in the red on Wednesday, with the BSE Sensex closing 100 points lower after a largely volatile trade session.
Although the indices had opened on a positive note and traded in the green for most of day, profit booking ahead of the futures and options (F&O) contracts expiry on Thursday, pulling the market down in the last two hours of trade, analysts said.
Heavy selling pressure on the energy, power and oil and gas stocks also weighed on the indices. Further, broadly negative European markets and a mixed trend in the Asian indices too dampened the domestic investor sentiments.
The Sensex closed at 38,132.88 points, lower by 100.53 or 0.26 per cent from the previous close of 38,233.41 points.
After opening at 38,372.03 points, it touched an intra-day high of 38,475.93 and a low of 38,001.34 points.
The Nifty50 on National Stock Exchange settled at 11,445.05 points, lower by 38.20 points 0.33 per cent from its previous close.
“Markets ended lower on Wednesday due to selling pressure in the afternoon session. The markets were quietly trading in a range in the morning session. Markets sold off post 1.30 p.m. as European markets opened a bit weak,” said Deepak Jasani, Head of Retail Research at HDFC Securities.
“Technically, while the Nifty has corrected today, the short term trend remains up. It will be important that the Nifty holds above the crucial supports of 11,360 for the uptrend to sustain,” he added.
Stock-wise, the top gainers on the Sensex were Yes Bank, IndusInd Bank and State Bank of India, while the major losers were NTPC, Tata Motors and Bharti Airtel.