Key equity indicators erased morning gains and nosedived in the afternoon session on Wednesday amid broad-based selling pressure.
At the closing bell, the BSE S&P Sensex was down by 334 points or 0.64 per cent at 51,942 while the Nifty 50 edged lower by 105 points or 0.67 per cent to 15,635.
All sectoral indices at the National Stock Exchange were in the red with Nifty PSU bank ticking down by 1.4 per cent, realty by 1.6 per cent and auto by 1.3 per cent.
Among stocks, Tata Motors was the top loser with a drop of 2.6 per cent to Rs 343.55 per share while Maruti Suzuki lost by 1.3 per cent to close the day at Rs 7,238.55.
Index heavyweight Reliance Industries dropped by 1.6 per cent to Rs 2,178 per share. Bajaj Finserv and Bajaj Finance lost by 1.5 per cent and 1.4 per cent respectively.
Adani Ports, Larsen & Toubro, IndiaOil Corporation and IndusInd Bank too traded lower with a margin of over 1 per cent.
However, among the gainers were PSU scrips like Power Grid Corporation, SBI Life, NTPC and Coal India.
Meanwhile, Asian stocks were in the red. Japan's Nikkei average shed 0.35 per cent while Hong Kong's Hang Seng slipped by 0.13 per cent and South Korea's Kospi by 0.97 per cent.
( With inputs from ANI )
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