The Indian stock markets' key indices, Sensex and Nifty, were trading in a narrow range in the afternoon session on Wednesday as gains in power, metal and banking stocks were offset by the losses in FMCG, pharma and IT scrips.
The 30 stock S&P BSE Sensex was trading 13.27 points or 0.02 per cent down at 55,553.14 points at 12.57 pm against its previous day's close at 55,566.41 points.
Earlier, the Sensex opened in the positive at 55,588.27 points and rose to a high of 55,791.49 points in the morning session. The Sensex slipped into the red within an hour of the market opening. It hit a low of 55,407.47 points. In the afternoon session, the Sensex was trading in a narrow band.
The Sensex had lost 359.33 points or 0.64 per cent on Tuesday.
The broader Nifty 50 of the National Stock Exchange was trading 13.45 points or 0.08 per cent down at 16,571.10 points against its previous day's close at 16,584.55 points.
The Nifty had lost 76.85 points or 0.46 per cent on Tuesday.
NTPC rose 1.28 per cent to Rs 158.15. ITC jumped 0.83 per cent to Rs 272.85. Tata Steel rose 0.75 per cent to Rs 1063.50.
The index heavyweight Reliance Industries was trading 0.58 per cent higher at Rs 2649.30. 8. HDFC Bank rose 0.43 per cent to Rs 1393.35.
Seventeen of the 30 scrips that are part of the Sensex were trading in the red.
Nestle India slumped 1.84 per cent to Rs 17443.30. Sun Pharma slipped 1.80 per cent to Rs 845.
Tech Mahindra, Power Grid Corporation, Dr Reddy's Laboratories, Bajaj Finserv and Hindustan Unilever were among the major Sensex losers.
( With inputs from ANI )
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