Indices end in the red after record rally; Nifty at 11,657, Sensex down 298 pts

Benchmark indices ended lower on May 23 as they wiped out all its intraday gains after hitting record highs in the morning trade.

At close, the Sensex was down 298.82 points at 38811.39, while Nifty was down 80.85 points at 11657.05. About 1182 shares have advanced, 1303 shares declined, and 170 shares are unchanged.