Key index heavy-weights like
The Sensex had touched an all-time intra-day high of 24,068.94 on Monday enthused by exit poll predictions. The 30-share BSE gauge had soared over 1,547 points in four days on the back of frenzied buying supported by hefty FII inflows.
The Sensex resumed higher at 23,897.88 and hovered in a range of 23,964.67 and 23,753.36 before ending at 23,815.12, showing a loss of 56.11 points or 0.24 per cent. Fourteen Sensex components fell while 16 counters rose.
"We believe the markets have discounted a comfortable win for NDA to form a stable and industry-pro government. There is limited room on the upside considering current valuations," said Hiren Dhakan,
Refinery, Capital Goods, IT and Healthcare sectors declined while Realty, Metal, Consumer Durable and Power sectors firmed up sharply on persistent buying support.
Activity was witnessed in shares of state-owned banks after an RBI panel report stated that the government should reduce holdings in PSU lenders to below 50 per cent.
Traders said the market was in an "over-bought" position and cautious participants preferred to lock some gains.
Meanwhile, the NSE 50-share Nifty closed unchanged at 7,108.75 after moving in a range of 7,080.90 and 7,142.25. It had gained 456 points in the previous four days.
The forex, money and most of the commodity markets like bullion and oils & oilseeds remained closed on Wednesday on account of Buddha Purnima.
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