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Indian equities slip amid profit-booking in bank and IT shares
Nifty and Sensex fell as profit-booking hit banks and IT; FPIs turned net sellers ahead of U.
Indian benchmark indices edged lower on Wednesday as traders booked profits in banking and technology counters after a recent rally. The Nifty 50 fell 0.42 % to 24,182, while the Sensex lost 278 points to 79,686. HDFC Bank, Infosys, and ICICI Bank were top drags, offset partly by gains in auto and energy stocks. Analysts said investors locked in gains ahead of corporate-earnings releases and U.S. inflation data. Market breadth stayed negative with mid-caps underperforming. Foreign portfolio investors turned marginal sellers after five consecutive sessions of net buying.