Snapping a three-day rally, the BSE benchmark index Sensex on Wednesday pared the early gains and shed 120 points at close on profit-selling by mostly funds.
The Sensex, which gained nearly 251 points in last three sessions, opened 99 points higher before ending 120.01 points down, or 0.75 per cent at 15,922.17, as funds sold heavily in blue-chips in the heavy machinery, PSUs, power, and banking counters on fears that government may withdraw a part of its stimulus package in the forthcoming budget.
However, the realty and consumer durables counters rose following reports that sale of building materials jumped 15 per cent in January, signalling continued economic growth.
The wide-based NSE index Nifty 50, too, lost 35.45points, or 0.74 per cent to 4,757.20, after touching a high of4,826.85.
