CLOSING BELL: After opening in the red, benchmark indices slipped further lower. At 9.24 am, BSE flagship Sensex was down 438 points or 0.74 percent to 58,689. NSE benchmark Nifty declined 114 points or 0.65 percent to 17,504. In the 50-share pack Nifty, Power Grid was the biggest gainer, up 1.71 percent. Indian Oil, ONGC, M&M, Bajaj Auto, NTPC, Bharat Petroleum, Coal India, and Divi’s Labs were among other gainers. Hindalco was the top loser in the pack, down 2.05 percent. Maruti Suzuki, Bajaj Finserv, HDFC Bank, Adani Ports, Sun Pharma, Titan, Bharti Airtel, and ICICI Bank were among those that traded in the red. IT, financials drag Sensex 361 pts lower, Nifty ends below 17,550; Bajaj Finserv sheds 3%