Markets fall for third straight session, bank and financial stocks major laggards

Mumbai: The BSE Sensex surrendered early gains to finish in the red for the third session on the trot on Wednesday as investors booked profits at higher levels amid a largely negative trend in global markets.

A depreciating rupee and lack of fresh buying triggers also kept sentiment at a low ebb, traders said.

After rallying nearly 400 points during the day, the 30-share BSE index made a U-turn in the last hour of trade to settle 66.95 points or 0.13 per cent lower at 52,482.71.

Similarly, the broader NSE Nifty slipped 26.95 points or 0.17 per cent to close at 15,721.50.

PowerGrid was the top loser in the Sensex pack, shedding 1.51 per cent, followed by Bajaj Finserv, ICICI Bank, HDFC, NTPC, HUL, Bajaj Finance and L&T.

On the other hand, Infosys, Reliance Industries, Nestle India, Maruti Suzuki, Tech Mahindra and UltraTech Cement were among the gainers, advancing up to 1.19 per cent.

Meanwhile, international oil benchmark Brent crude was trading 0.79 per cent higher at USD 74.87 per barrel.

The rupee weakened by 9 paise to end at 74.32 against the US dollar as a firmer American currency overseas and rising crude oil prices weighed on investor sentiment.