New Delhi: After last few sessions of sluggish trade the markets saw a deep crack on Wednesday and ended with some hefty losses.
The benchmark BSE Sensex reversed an early trend and lost 283 points in pre-close trading before closing the day at 14257.27 points, down 1.91 per cent or 277.74 points.
The Sensex, which began the day with a gain of 55 points, fell to record a loss of 283.18 points, or 1.95 per cent, to 14,245.70 at 1500 hrs as most of the index-related stocks led by Tata Motors declined.
Similarly, the wide-based National Stock Exchange index Nifty dipped by 86.40 points, or 2.02 per cent, to close at 4,198.25 points.
All the BSE sector indices closed in red on brisk selling by funds in auto and banking sector stocks.
The market breadth was extremely negative and this fall has been huge volumes.
Stockbrokers said a negative report of growth in auto sector due to higher interest rates by banks influenced trading sentiments.
They said all key sector indices turned weak on all-round selling by foreign as well as domestic financial houses.
However, information technology sector led by Infosys remained the star performer and saved the Sensex from further losses.
It was a bad day for European markets as well but most of the Asian markets ended flat.
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