Sensex pares early gains, sheds 185 pts in choppy trade; Nifty ends below 16,550

Equity benchmarks failed to hold on to early gains and came under selling pressure in a choppy session on Wednesday, with the Sensex tanking 185 points amid mixed trends from global markets. High crude oil prices and foreign fund outflows also played spoilsport. The 30-share BSE Sensex declined 185.24 points or 0.33 per cent to settle at 55,381.17. During the day, it dived 474.98 points or 0.85 per cent to 55,091.43 after an initial rally. The broader NSE Nifty dipped 61.80 points or 0.37 per cent to finish at 16,522.75.

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