Sensex touches 56,000 but ends in the red; bank stocks tumble

The BSE Sensex scaled the 56,000-mark for the first time on Wednesday but finished in the red following a late sell-off as investors pocketed gains in banking, finance and IT stocks.
 
Snapping its four-session record-setting spree, the the 30-share benchmark closed 162.78 points or 0.29 per cent lower at 55,629.49. It touched its all-time peak of 56,118.57 during the session.

Similarly, breaking its seven-day winning streak, the broader NSE Nifty declined 45.75 points or 0.28 per cent to 16,568.85. It touched a record intra-day peak of 16,701.85.
 
Kotak Bank was the top loser in the Sensex pack, shedding 2.09 per cent, followed by ICICI Bank, PowerGrid, IndusInd Bank, HDFC, Axis Bank and Maruti. On the other hand, UltraTech Cement, Bajaj Finance, Bajaj Finserv, Nestle India and Bajaj Auto were among the gainers, advancing up to 2.46 per cent.