Sensex, Nifty end lower amid volatility; banks, FMCG stocks drag

Indian benchmark equity indices settled lower on Wednesday tracking losses in index majors HDFC twins, ICICI Bank and Kotak Bank. After swinging between gains and losses, the BSE Sensex closed 77.94 points or 0.13% lower at 58,927.33. Likewise, the NSE Nifty ended at 17,546.65, down 15.35 points or 0.09%. Mortgage lender HDFC, closing over 1% lower, was the Sensex laggard followed by Nestle India, ICICI Bank, Kotak Bank and HDFC Bank. Tech Mahindra, M&M, HCL Tech and Bajaj Auto were among the gainers. Most sectoral indices on the NSE closed in the green. Nifty Media, surging over 15%, was the top sectoral gainer mainly led by the over 30% rally in ZEEL after its merger deal with Sony Pictures was announced. Auto, IT, metal and realty stocks witnessed sharp rebound. On the other hand, Banks, financials and FMCG stocks were under pressure. In Asia, stock exchanges in Shanghai ended in the green, while Tokyo was in the red. Stock markets in Hong Kong and Seoul were closed for holidays.