In the red again: IT, pharma pull indices down for second day in row

In the broader market, the BSE mid-cap gauge climbed 0.31% and small-cap index advanced marginally by 0.06%

Benchmark indices Sensex and Nifty50 gave up early gains to close in negative territory on Thursday, dragged down by IT and pharma stocks which fell amid fears of recession in the global economy.

The 30-share Sensex opened higher and rose further to touch a day's high of 60,676.12 on gains in auto and capital goods shares. However, it gave up all early gains and closed 412.96 points or 0.68 per cent lower at 59,934.01.

The Nifty50 dipped 126.35 points or 0.7 per cent to settle at 17,877.40.

From the Sensex pack, Tech Mahindra fell the most by 3.13 per cent.