Sensex snaps 4-day winning streak; foreign investors sell

The BSE Sensex snapped a four-session winning streak on Wednesday as blue chips, including Larsen & Toubro, retreated from recent strong gains a day after foreign investors turned net sellers for the first time in about a month.

Foreign investors sold Indian cash shares worth a net $17.8 million on Tuesday, their first selling since April 16, provisional exchange data showed.

The benchmark BSE Sensex fell 0.32 per cent, or 78.86 points, to end at 24,298.02, retreating from a record closing high hit a day earlier. The index still remains below the all-time high of 25,375.63 hit on Friday, when the BJP won a clear majority in the country's elections.

The broader Nifty lost 0.31 per cent, or 22.60 points, to end at 7,252.90.

Larsen & Toubro declined 2.2 per cent after marking its highest in six-and-half years in the previous session, while BHEL lost 2.4 per cent. UltraTech Cement slumped 3.2 per cent, while ACC fell 2.9 per cent. State Bank of India lost 2.7 per cent, Axis Bank ended down 2.3 per cent.