Sensex slumps 334 points as bears return; RIL, bank stocks decline

Domestic markets surrendered early gains to finish deep in the red on Wednesday as profit-booking emerged in Reliance Industries, banking and infra stocks amid a weak trend in global equities. Concerns over frothy valuations and a depreciating rupee also sapped investor confidence, traders said. After a firm opening, the 30-share BSE Sensex suddenly succumbed to selling pressure in mid-afternoon trade. It finally closed 333.93 points or 0.64 per cent lower at 51,941.64, extending its losing streak to the second session. On similar lines, the broader NSE Nifty slumped 104.75 points or 0.67 per cent to end at 15,635.35. L&T was the top loser among the Sensex companies, shedding 1.80 per cent, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, Bajaj Finance, SBI, Maruti, Axis Bank and Bajaj Auto. On the other hand, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers, spurting up to 3.42 per cent. "Domestic equities fell sharply as selling pressure in

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