Mumbai (Maharashtra) [India], May 18 (ANI): Snapping two days of gaining streak, the Indian stock markets' benchmark Sensex closed 110 points down on Wednesday dragged by selling pressure in power, IT and banking stocks.

The 30 stock S&P BSE Sensex slipped 109.94 points or 0.20 per cent to close at 54,208.53 points against its previous day's close at 54,318.47 points.

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Earlier, the Sensex opened in the positive at 54,554.89 points and rose to a high of 54,786.00 points in the morning trade. The index slipped into negative in the afternoon session. It fell to a low of 54,130.89 points in the intra-day.

The Sensex has closed in the red for the first time in the past three sessions. The index had rallied 1344.63 points or 2.54 per cent on Tuesday.

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The broader Nifty 50 of the National Stock Exchange fell 19.00 points or 0.12 per cent to 16,240.30 points against its previous day's close at 16,259.30 points.

The Nifty 50 had gained 417 points or 2.63 per cent on Tuesday.

Power Grid Corporation dipped 4.55 per cent to Rs 227.85. Tech Mahindra slipped 2.14 per cent to Rs 1172.45. State Bank of India dipped 2.01 per cent to Rs 457.95.

Bajaj Finserv, L&T, Bharti Airtel, NTPC, Wipro and HCL Technologies were among the major Sensex losers.

The index heavyweight Reliance Industries closed 0.32 per cent higher at Rs 2538.80.

Hindustan Unilever surged 2.02 per cent to Rs 2290.65. UltraTech Cement rose 1.98 per cent to Rs 6230. Asian Paints, Sun Pharma, ITC, Axis Bank and Maruti Suzuki were among the major Sensex gainers. (ANI)

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