The Indian markets on Wednesday snapped the gaining streak to post weak performance led by banking and metal stock at the close. Opening at new record high levels today, both the benchmark indices gave up their gains to end negative, as Sensex down over 150 points and Nifty below 16600. 

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The BSE Sensex tumbled around 163 points or 0.29 per cent to 55,629.49, while Nifty50 slipped over 45 points or 0.28 per cent to 16,568.85 levels at the market close on Wednesday. While the mid-cap index grew by 79 points or 0.29 per cent higher to 27676.80 levels today, defying benchmarks.

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Nifty Bank dragged the Nifty most, as the index ended over 312 points or 0.87 per cent lower to 35554.5 levels, led mainly by Kotak Bank, ICICI Bank and IndusInd Bank.      

Out of 50 scrips on Nifty50, 20 advanced, 30 declined at the market close on Wednesday. Eicher Motors grew most in an otherwise subdued market, gaining by over 2.5 per cent, followed by UltraTech cement up near 2.5 per cent and Bajaj Finance up over 2 per cent at the market close today.

While other stocks such as Adani Ports, Grasim, and Bajaj Finserv also gained around 1.5 per cent in an otherwise weak market on Wednesday. 

On the contrary, private lender Kotak Bank and metal major Hindalco dragged the market most by slipping by around 2.3 per cent, followed by ICICI Bank, SBI Life, and Tata Motors each declining between 1.5-2 per cent at the market close on Wednesday. 

All the sectoral indices closed in the red, except for the Nifty IT, FMCG, Pharma and PSU Banks. PSU banks and Pharma company stock ended most by a quarter per cent on Wednesday, while Nifty bank and Metal lead the decline in the market, as each slumped by around 1 per cent at the close.