Closing Bell: Sensex cracks by 549 points, IT stocks drag

Equity benchmark indices extended early losses to close one per cent lower on January 15 amid broad-based selling as traders booked profit.

The BSE SandP Sensex wound up the day 549 points or 1.11 per cent lower at 49,035 while the Nifty 50 slipped by 162 points or 1.11 per cent to 14,434.

All sectoral indices at the National Stock Exchange were in the red with Nifty IT and PSU bank down by 2.1 per cent, realty by 1.8 per cent, pharma by 1.6 per cent and metal by 1.1 per cent.

Among stocks, IT majors had a tough day with Tech Mahindra dropping by 3.9 per cent to Rs 1,011 per share while HCL Technologies cracked by 3.7 per cent and Wipro by 3.6 per cent.