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Share Market: Sensex Closes 503 points down; Stocks Of Reliance, Bajaj Slips Down

MUMBAI: The Indian equities markets reversed course in the day with benchmark Sensex closing 503 points down after rallying over 400 points in the early trade. With this, Selling pressure in heavyweight Reliance Industries and banking and financial stocks dragged the index down.

The 30-stock S&P BSE Sensex of the Bombay Stock Exchange ended the day at 58,283.42 points, 0.86 per cent or 503.25 points lower than the previous session close at 58,786.67 points. 

The key indices opened the day on a positive note and traded in the green till noon. However, heavy selling pressure in heavyweight stocks dragged the index down. The benchmark Sensex fluctuated around 1000 points during the day. The index opened on a positive note at 59,103.72 points and surged to a high of 59,203.37 points in the early morning trade. The Sensex slipped to a low of 58,242.80 points in the intra-day.

The broader Nifty 50 of the National Stock Exchange (NSE) ended the day at 17,368.25 points, 0.82 per cent lower than the previous session close at 17,511.30 points.