Mumbai, March 18  The key Indian equity indices reversed initial gains on Wednesday to trade in the red, with the BSE Sensex down 400 points.

Volatility continued in the domestic stock markets.

At 10.03 am, it was trading at 30,163.14, lower by 415.95 points or 1.36 per cent from its previous close 30,579.09.

It opened nearly 400 points up at 30,968.84 and touched an intra-day high of 31,101.77 and a low of 30,056.74 points so far.

The Nifty50 on the National Stock Exchange (NSE) was trading at 8,863.30, lower by 103.75 points or 1.16 per cent from its previous close.

Banking/finance stocks continued to witness selling pressure on Wednesday.

The top gainers on the Sensex so far were Infosys, Sun Pharmaceuticals, and Hindustan Unilever, while IndusInd Bank, Axis Bank, and Kotak Mahindra Bank lost the most.