Equities wipe out intra-day gains to close in red

Last Updated: Wed, Feb 13, 2019 17:56 hrs
Share markets

Equity benchmark indices erased all its intra-day gains on Wednesday and closed in the red following last hour selling pressure.

Amid volatile trading, the selling pressure was intense in Reliance Industries, L&T and ICICI Bank.

The S&P BSE Sensex closed 120 points lower at 36,034, while the Nifty 50 slipped 38 points at 10,794.

Among the prominent losers were included Eicher Motors, Indian Oil Corporation, Hindustan Petroleum Corporation Ltd, GAIL and ONGC. HPCL closed 3.8 per cent lower, IOC 3.9 per cent and BPCL 3.09 per cent.

On the other hand, Adani Ports, Indiabulls Housing, UPL, Tata Motors and HDFC were the top gainers.

Meanwhile, Asian stock markets were mixed after officials in Washington and Beijing expressed hopes that a new round of talks which began this week will bring them closer to easing the 7-month trade war.

Deputy Trade Representative Jeffrey Gerrish is leading the US delegation for working-level discussions in efforts to reach a deal before March 1.