Indian markets closed mixed on Wednesday after many sessions touching all-time highs for major indices. NSE Nifty closed marginally positive while BSE Sensex closed marginally lower. Market participants are getting anxious about valuations of companies and a correction is long due. Today’s session was marked by decline from the first hour of trade. Indian stocks were also under pressure as global markets were trading low, especially the Asian stocks. When European markets opened negative, the afternoon session in local markets faced further decline but recovery was noticed towards the end of the session.

Among major gainers in today’s session were Bajaj Auto, HDFC Life, Maruti Suzuki, Hero MotoCorp, IndusInd Bank, Tech Mahindra, ITC, Britannia Industries, ICICI Bank and Titan Industries. Nestle, Asian Paints and Grasim were also firm towards the end of the trading session.

Among major losers were HDFC Bank, HDFC, Tata Consumer Products, Hindalco, Wipro, NTPC, JSW Steel, Axis Bank, Tata Motors, Dr Reddy’s and Reliance Industries.

Bajaj Auto closed strong after the company launched Triumph bike. Eicher Motors stock closed negative as the company faces tough competition.

Financial services and banking stocks were trading lower after HDFC Bank reported lackluster first quarter data. Banking stocks have witnessed a strong rally in the recent weeks.

US markets are waiting for FOMC minutes today and we could see higher volatility. European markets are expected to close negative today as the global market sentiment has turned cautious after the recent rally.