MUMBAI: Equity benchmarks Sensex and Nifty ended marginally lower on Wednesday, tracking losses in market heavyweights Infosys, Reliance Industries and TCS amid a weak trend in global markets.
After swinging over 400 points in a volatile session, the 30-share Sensex ended 29.22 points or 0.05 per cent lower at 58,250.26. Similarly, the NSE Nifty slipped 8.60 points or 0.05 per cent to 17,353.50. Nestle was the top loser in the Sensex pack, shedding over 2 per cent, followed by Maruti, Bajaj Finserv, Bajaj Auto, TCS and L&T.
On the other hand, Kotak Bank, Titan, NTPC and Sun Pharma were among the gainers. "Domestic bourses witnessed modest contraction mainly led by profit booking in IT and auto stocks. Further, weak cues from global equities also weighed on investors' sentiment," said Binod Modi, Head - Strategy at Reliance Securities.
Textile stocks were in focus as government approved a production-linked incentive (PLI) scheme worth Rs 10,683 crore for the sector. Buying was seen in midcap and smallcap stocks as recent contraction in this space made risk reward proposition favourable for a number of stocks, he added.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended with losses while Tokyo closed on a positive note. Equities in Europe were trading with gains in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 0.98 per cent to USD 72.39 per barrel.