Sensex closes 168 points down; auto, banking stocks slump

Mumbai: The Indian stock market's benchmark Sensex closed 168 points down on Wednesday dragged by heavy selling pressure in auto and banking stocks.

The 30 stock S&P BSE Sensex closed 168.08 points or 0.28 percent down at 59,028.91 points against its previous day's close at 59,196.99 points.

Earlier, the Sensex started the day deep in the red at 58,789.26 points and slumped to 58,722.89 points in the morning session.
The Sensex trimmed losses in the afternoon session rising to a high of 59,166.46 points.
The Sensex had closed 48.99 points or 0.08 percent down on Tuesday.

The broader Nifty 50 of the National Stock Exchange closed 31.20 points or 0.18 percent down at 17,624.40 points.
The Nifty started the day sharply down at 17,519.40 points and fell to a low of 17,484.30 points in the morning session against its previous day's close at 17,655.60 points.
The Nifty had lost 10.20 points or 0.06 percent on Tuesday.
Auto and some financial stocks witnessed heavy selling pressure.

Mahindra & Mahindra dipped 1.32 percent to Rs 1289.25. Maruti Suzuki slipped 1.15 percent to Rs 8782.10.
IndusInd Bank slumped 1.69 percent to Rs 1089.90. State Bank of India slumped 0.95 percent to Rs 532.65. ICICI Bank slumped 0.85 percent to Rs 876.40. HDFC fell 0.72 percent to Rs 2430.
The index heavyweight Reliance Industries Limited closed 0.55 percent down at Rs 2581.15. HDFC Bank fell 0.49 percent to Rs 1482.20.

UltraTech Cement surged 4.13 percent to Rs 6767.95. TCS jumped 0.71 percent to Rs 3151.10. Wipro jumped 0.69 percent to Rs 407.35.
Twelve of 30 scrips that are part of the benchmark Sensex closed in the positive. Sun Pharma, Bajaj Finance, Bajaj Finserv, Axis Bank, Titan, Nestle India and Infosys were among the major Sensex gainers. (ANI)