Banking sector stocks depress equity indices

Massive sell-off in banking sector stocks pulled the key Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- lower on Wednesday.

According to market observers, heavy selling pressure was witnessed in banking, healthcare and automobile stocks.

At 3.30 p.m. the barometer 30-scrip Sensitive Index (Sensex) of the BSE receded by 144.52 points or 0.42 per cent to 34,155.95 points from Monday's close. The equity markets were closed on Tuesday.

Similarly, the wider Nifty50 of the National Stock Exchange declined by 38.85 points or 0.37 per cent to 10,500.90 points.

--IANS

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