Markets end lower on profit booking; metal, IT stocks drag

Indian benchmark equity indices closed in the red on Wednesday as investors booked profits amid a positive trend in global markets.

After touching a lifetime high of 57,918.71 in early deals, Sensex closed 214.18 points or 0.37% lower at 57,338.21. Likewise, Nifty declined 55.95 points or 0.33% to 17,076.25. The 50-share index scaled an intra-day record high of 17,225.75.

M&M, falling nearly 3%, was the top Sensex laggard followed by Tata Steel, Bajaj Finserv, TCS, HDFC and Infosys. Asian Paints, Nestle India, Axis Bank and Titan were among the gainers.

Sectoral indices on the NSE ended mixed. Nifty Metal, shedding nearly 2% was the top sectoral laggard followed by Nifty IT, Nifty Metal and Nifty Financial Services. On the other hand, Nifty Realty, closing over 5% higher, was the top sectoral gainer followed by Nifty PSU Bank, Nifty Media, Nifty Private Bank and Nifty Bank.

In Asia, stock exchanges in Shanghai, Hong Kong, Tokyo and Seoul ended on a positive note. Equities in Europe were also trading with gains in the afternoon session.