The Indian benchmark equity indices, Sensex and Nifty ended Wednesday's volatile session lower, their fifth consecutive day of losses, dragged by selling in banks, pharma and media stocks amid mixed global cues.

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The Sensex ended 65.66 points or 0.17 percent lower at 37,668.42 while the Nifty lost 21.80 points or 0.20 percent to settle at 11,131.85. Broader indices ended mixed with Nifty Smallcap100 closing flat while Nifty Midcap100 falling 0.33 percent.

Among sectors, Nifty Media fell the most over 2 percent followed by Nifty Pharma and Nifty PSU Bank declining over 1 percent each. Nifty Private Bank, Nifty Realty and Nifty Financial Services ended in the green.

Nifty Bank gained more than 350 points to close in the green.

"The markets reached close to 11,000 but were swift to bounce back. However, the target of 10,900-11,000 is still open and we could very well achieve it. 11,600-11,650 is the resistance level and hence any rally up can be utilized to go short on the Nifty," said Manish Hathiramani, Proprietary Index Trader and Technical Analyst, Deen Dayal Investments.

Bharti Infratel, Bharti Airtel, Tata Steel, ZEEL and IndusInd Bank led the decline among Nifty50 constituents while Axis Bank, Coal India, GAIL India, HDFC Bank and Hindustan Unilever were the top index gainers.

Shares of Reliance Industries Ltd (RIL) ended higher after it announced that US-based private equity firm KKR will invest Rs 5,500 crore in its subsidiary Reliance Retail Ventures for a 1.28 percent stake. This is the second deal stitched up by the retail unit of RIL within a month.

Globally, shares stabilized and the dollar rose on Wednesday with overnight gains of stay-at-home Wall Street tech champions helped balance concerns that new restrictions to counter resurging coronavirus infections will hurt the economic recovery, Reuters reported.

MSCI world equity index, which tracks shares in 49 countries, was 0.2 percent higher, while the pan-European STOXX 600 benchmark rose 1.1 percent.

First Published:Sept 23, 2020 3:36 PM IST