Indian Equity market pared all its early trae gains in afternoon trade with the Sensex falling 213 points to 29,380.73 and the Nifty losing 73 points to 8,992.65. All the sectoral indices, barring healthcare, are in the red with oil & gas and rate-sensitive sectors leading the fall. However, pharma maintained its strong uptrend. Both Sensex and Nifty had risen nearly 3 per cent in the previous four sessions on Budget announcements, which were mostly viewed positively by market participants.

In early trade, the Sensex had breached the 30,000 for first time and hits the fresh high of 30,024.74 by gaining over 400 points and the Nifty, touched life high of 9,119.20 after the Reserve Bank of India governor Raghuram Rajan in a surprise move decided to cut repo rate by 25 basis points.

The INR remained under pressure due to dollar demand and ended the day at 62.25 down by 33.5 paisa.

Among the sectorial indices of NSE CNX PSU Bank (-3.04%) witnessed the major selling pressure followed by CNX Metal (-2.57%) and Bank Nifty (-1.59%). CNX Pharma (1.32%) and CNX FMCG (0.40%) were only gainers of the day.

Out of the 50 stocks of Nifty 8 shares ended in green and 41 ended in red.

Top 5 Nifty Gainers: Sun Pharma (6.57%), DLF (1.85%), ITC (1.04%), HCL (0.43%) and HDFC (0.29%).

Top 5 Nifty Losers: Sesa Sterlite (-4.75%), NMDC (-4.34%), BOB (-3.74%), CAIRN(-3.71%) and Hindalco (-3.59%)

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