Benchmarks skid for 3rd session as bank stocks tumble; Bharti Airtel bucks trend

Mumbai: Equity benchmarks nursed losses for the third session on the trot on Wednesday, weighed by banking, energy and auto stocks amid a lacklustre trend overseas.

Global markets stayed on the backfoot amid a continuing sell-off in Chinese shares, while investors also remained on the sidelines ahead of the US Federal Reserve's policy decision.

After plummeting over 700 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 135.05 points or 0.26 per cent lower at 52,443.71.

Similarly, the broader NSE Nifty slipped 37.05 points or 0.24 per cent to close at 15,709.40.

Kotak Bank was the top laggard in the Sensex pack, shedding 2.64 per cent, followed by Dr Reddy's, M&M, PowerGrid, NTPC, HDFC Bank and Nestle India.

On the other hand, Bharti Airtel topped the gainers' chart with a jump of 5.08 per cent after the telecom player hiked its prepaid tariffs, just a week after upgrading its postpaid plans.

Tata Steel, IndusInd Bank, Bajaj Finserv, ICICI Bank and UltraTech Cement were among the other winners, climbing up to 2.60 per cent.

Sectorally, BSE auto, bankex, utilities, realty, consumer durables and energy indices slipped up to 1.01 per cent, while telecom, metal, teck, basic materials and capital goods indices ended with gains.

Broader BSE midcap index ended flat, while the smallcap gauge fell 0.45 per cent. The rupee recovered by 9 paise to close at 74.38 against the US dollar on Wednesday.