MARKET LIVE: Sensex slips 300pts, Nifty nears 17,200; Infosys, HDFC weigh

Stock market LIVE updates: The key benchmark indices were seen consolidating in a narrow band in trades on Wednesday, even as global cues remain encouraging. Back-to-back hike in fuel prices seem to weigh on the investor sentiment, as it would result into a spike in inflation. 

The S&P BSE Sensex touched a high of 58,417 in early deals, but was down around 100-odd points around 58,060. The NSE Nifty too was marginally in red.

Pharma major, Dr.Reddy's was the top gainer, up around 3.5 per cent. Tech Mahindra, ITC and HCL Technologies were the other notable gainers. On the other hand, Bharti Airtel, Kotak Bank, Maruti and Asian Paints were the significant losers, down over a per cent each.

The broader markets were outperforming the benchmarks. Both, the BSE Midcap and Smallcap indices were up around 0.4 per cent each.

Sectorally, the BSE Healthcare and Power indices gained more than a per cent each. Most of the other sectoral indices held marginal gains.