Mumbai (Maharashtra) [India], May 11 (ANI): The Indian stock markets' key indices, Sensex and Nifty, closed in the red for the fourth straight session on Wednesday dragged by selling pressure in IT, FMCG and infra stocks.

The 30 stock SP BSE Sensex closed 276.46 points or 0.51 per cent down at 54,088.39 points against its previous day's close at 54,364.85 points.

This is the fourth straight day of slump in the benchmark index. The Sensex had lost 105.82 points or 0.19 per cent on Tuesday.

The broader Nifty 50 of the National Stock Exchange closed 72.95 points or 0.45 per cent down at 16,167.10 points against its previous day's close at 16,240.05 points.

There was heavy selling pressure in IT, FMCG, infra and power stocks.

LT slumped 2.34 per cent to Rs 1571.45. Bajaj Finserv dipped 2.26 per cent to Rs 13318.70. Bajaj Finance fell 2.08 per cent to Rs 5806.45.

Power stocks fell sharply. Power Grid Corporation dipped 1.99 per cent to Rs 239.05. NTPC fell 1.71 per cent to Rs 152.65.

The index heavyweight Reliance Industries closed 0.95 per cent down at Rs 2449.75. The scrip had lost 1.74 per cent on Tuesday.

Other major Sensex losers included Infosys, Maruti Suzuki, ITC, Tech Mahindra, Wipro and HCL Technologies.

Only 10 of the 30 scrips that are part of the Sensex closed in the positive. Axis Bank rose 1.92 per cent to Rs 672.45. IndusInd Bank jumped 1.37 per cent to Rs 923.20. HDFC, Kotak Bank, HDFC Bank, Bharti Airtel and ICICI Bank were among the major Sensex gainers. (ANI)