Prime Time Zone, Webdesk: The domestic equity markets saw a break for a series of gains. The indexes, which have been recording lifetime highs for the past ten days, traded lower on Wednesday. Market experts said investor sentiment was hurt by the World Bank’s forecast that the Indian economy would shrink by 9.6 per cent in the current financial year.
Similarly, analysts believe that investors have been cautious in the face of a record rally in the markets over the past ten days. At the close, the Sensex was down 263.72 points at 48,174 and the Nifty was down 53.25 points at 14,146. In the Nifty, IT, auto, FMCG and pharma sectors traded lower on selling pressure, while private sector banks, auto and metal sectors rallied. In the Sensex, Powergrid, Bharti Airtel, ONGC, Ultra Cement, ICICI Bank and SBI led gainers, while ITC, Reliance, Bajaj Finance, Axis Bank, HCL, Hindustan Unilever and TCS led the gainers. Rupee exchange rate against US dollar Is at 73.08.