After registering decent gains on Tuesday, Indian Stock markets ended in negative zone on Wednesday. BSE Sensex close 91 points lower at 17,287 while NSE Nifty closed with a loss of 29.6 points at 5165.

BSE Midcap index closed marginally down at 7138. Some select PSU counters and Auto Stocks gained. Banking Stocks dragged the indices down with Bankex index losing 145 points at 8819.

M&M was among major gainers. The stock closed 4.31 percent higher at Rs 670. Tata Motors gained 3.5% to end the day at Rs 662. ITC was up by 3.6% compared to previous close.

Among major losers in today’s session were HDFC, ICICI Bank, Grasim and DLF. DLF was among major gainers yesterday with stock touching 10 percent higher circuit. The lost closed today at Rs 705, down by 2.84 percent. Grasim lost 2.8% to close at Rs 2402.

Most of the Asian markets closed strong today while Japan’s Nikkei was marginally down. Nasdaq closed on Tuesday at 2426. US Federal Reserve may announce a cut in interest rate to 2% from 2.25% on Wednesday. Investors can expect action in some select stocks in US after the announcement of interest rate cut.