Sensex, Nifty Snap Three-Day Winning Streak As Banking, Auto Shares Dive
The S&P BSE Sensex and NSE Nifty 50 indexes came off record highs touched earlier in the day and snapped their three-day winning streak as auto, banking and information technology stocks came under selling pressure. The S&P BSE Sensex fell as much as 687 points from record high of 39,572 and the NSE Nifty 50 Index dropped as much as 201 points from record high of 11,883.55. The benchmarks opened higher owing to gains in Reliance Industries and rallied to all-time high levels but gave up gains after HDFC Bank, Infosys, ICICI Bank, Tata Consultancy Services and State Bank of India came under selling pressure in afternoon deals.
In the yesterday's session, Sensex and Nifty posted their biggest single-day gain since September 2013.
The Sensex ended 383 points or 0.97 per cent lower at 38,970 and the NSE Nifty 50 Index declined 1 per cent or 119 points to close at 11,709.
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