Mumbai, March 23
Equity benchmarks declined in initial trade on Thursday after a two-day rally, in line with a weak trend in global markets.
Also, a weak trend in index major Reliance Industries and IT counters added to the pressure.
The 30-share BSE Sensex fell 341 points to 57,873.59 after a weak beginning. The broader NSE Nifty declined 97.8 points to 17,054.10.
Among the Sensex stocks, Asian Paints, Wipro, HCL Technologies, Infosys, Reliance Industries, HDFC, Power Grid and Kotak Mahindra Bank were the biggest laggards.
Tata Motors, Nestle, Larsen & Toubro and Bharti Airtel were among the gainers.
In Asia, Seoul, Japan and Shanghai markets were trading lower, while Hong Kong quoted in the green.
The US markets had ended sharply lower on Wednesday.
