After a two-day winning streak, the benchmark indices went South.
The Sensex declined 764.83 points or 1.31percent at 57,696.46. The broader Nifty was down 205 points or 1.18 percent at 17,196.70 dragged by FMCG, Pharma, Financial Services, and IT stocks. About 1,722 shares have advanced, 1,453 shares declined, and 137 shares are unchanged.
Among the losers on the Nifty were Power Grid Corporation, Reliance Industries, Tech Mahindra, Asian Paints and Kotak Mahindra Bank were while UPL, BPCL, ONGC, IOC and L&T were among the gainers.
Gaurav Udani, CEO & Founder, ThincRedBlu Securities, said, "Nifty made a bearish bar today. After making a high of 17,489 , it closed at 17,200 , down by 290 points from the high. Nifty is unable to sustain at higher levels. Traders need to watch out 17,000 level , any break below it may take Nifty to 16,850 and 16,700 levels. Overall trend in Nifty is sideways to bearish."