Benchmark equity indices Sensex and Nifty reversed their early gains to close lower on Wednesday due to selling in oil & gas, banking and IT stocks amid weak trends in European markets.
The 30-share BSE Sensex declined by 372.46 points or 0.69 per cent to close at 53,514.15, extending its falling streak to a third day.
The index opened higher and touched the day's high of 54,211.22 amid gains in Asian markets. However, it failed to hold onto its gains and dropped over 750 points to touch a low of 53,455.26 as European markets opened lower.
The broader NSE Nifty declined 91.65 points
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