Indices back in red on profit-booking in banking, financial, and IT stocks

The frontline stock indices, Sensex and Nifty50, tumbled nearly 1 per cent on Wednesday due to profit-booking in banking, financial, and IT stocks after a recent rally.

The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it declined 772.57 points or 1.34 per cent to touch a low of 56,584.04.

The broader NSE Nifty50 declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red.

Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent. Bajaj