New Delhi– Erasing entire opening session gains, the benchmark indices closed the truncated festival week in the red.

Equity markets will be closed on Thursday and Friday on account of Dr Baba Saheb Ambedkar Jayanti/Mahavir Jayanti and Good Friday, respectively.

On Wednesday, Sensex closed at 58,339 points, down 237 points or 0.4 per cent, whereas Nifty at 17,476 points, down 55 points or 0.3 per cent.

With the onset of the earnings season, the market is likely to be buoyed by sector specific momentum, said Vinod Nair, Head of Research at Geojit Financial Services.

On Wednesday, pipes manufacturer Hariom Pipes Industries made a strong debut on the exchanges with its share prices witnessing nearly 50 listing gains. (IANS)