New Delhi, Aug. 27 -- Indian equity benchmarks ended lower on Wednesday, giving up part of the previous session's expiry-day gains as heavyweight IT and telecom stocks weighed on the indices.

Nifty 50 fell 126.80 points, or 0.52%, to close at 24,207.75, while Sensex declined 183.15 points, or 0.24%, to settle at 77,472.94. IT was the weakest sector, sliding more than 1% on continued long unwinding after last month's short-covering rally. Telecom and consumer durables also lagged. Banking, metals, healthcare and pharma bucked the trend to close higher, with the metal index rallying more than 1.5% on short covering.

On the macroeconomic front, Brent crude eased toward $86 per barrel and India's volatility index fell nearly 2% as reports o...