Taking a cue from weak Asian markets, the Bombay Stock Exchange (BSE) bellwether Sensex dropped further by 96 points to close at 11,406.65, following a slow down in foreign funds inflow.
The BSE-30 share sensitive index (Sensex) opened firm at 11,579.92 points, also the day's high, as against Tuesday's close of 11,502.62, but soon dipped to a low of 11,374.86 points on emergence of profit-selling and finally concluded at 11,406.65, a fall of 95.97 points or 0.83 per cent over the previous session.
Similarly, on the National Stock Exchange (NSE), the S&P CNX Nifty dropped by 28.80 points or 0.86 per cent to 3,335.80 from previous close of 3,364.60 points.
Foreign Institutional Investors (FIIs) continued their selling spree in derivatives segment and pulled out nearly 166 crore on Tuesday after booking profits to the tune of nearly 592 crore in past three days.
They also pressed sales in the vicinity of Rs 26.74 crore in cash segment on Tuesday as per provisional figures, forcing wary operators to trim their long outstanding positions.
In foreign markets, the Hang Seng closed down by 61.36 points, the Nikkei by 18.14 points, Kospi by 10.01 points and the Singapore St by 8.73 points.
In New York, the Dow Jones Industrial Average and the Nasdaq Composite Index ended barely flat on Tuesday, erasing initial rally.
Metal, auto and consumer durables led the fall with all sectoral indices closing in negative territory.
Trading volume was moderately down at Rs 2,998.25 crore from Rs 3,079.31 crore on Tuesday. EDU Comp topped the list of highest traded securities with a turnover of Rs 154.29 crore followed by Bombay Dyeing (Rs 129.88 cr), Mahindra Gesco (Rs 126.08 cr), RIL (Rs 125.32 cr) and Rel Capital (Rs 66.38 cr).
The broad-based BSE-100 Index dipped further by 54.57 points to 5,794.91 from previous close of 5,849.48.
The BSE-200 Index and the Dollex-200 were quoted sharply lower at 1,368.10 and 489.52 at close compared to last close of 1,381.75 and 494.48 respectively. The BSE-500 Index dropped further by 44.75 points to 4,335.36 from 4,380.11 and the Dollex-30 ended lower at 2,012.64 from 2,029.91 previously.
SBI tumbled by 15.30 points to 862.60, ICICI Bank by 4.30 to 590.00, Tata Steel by 9.25 to 506.00, Hindalco by 2.45 to 161.80, Grasim by 29.20 to 2192.80, Infosys Tech by 14.85 to 1767.30, Maruti by 12.20 to 825.55, HLL by 2.50 to 229.75, ITC by 3.15 to 178.55, ACC by 12.45 to 894.20, Bajaj Auto by 61.90 to 2689.00, Bharti Air by 4.05 to 405.60, Cipla by 5.65 to 245.80, HDFC by 38.30 to 1279.35, HDFC Bank by 1.45 to 853, Hero Honda by 3.55 to 700.05, L&T by 33.25 to 2358.05, ONGC by 2.25 to 1199.45, Ranbaxy by 6.25 to 385.40, REL by 2.35 to 458.45, RIL by 3.10 to 1061.75 and TCS by 11.55 to 963.35.
However, BHEL rose by 10.80 to 2249.25, Dr Reddy by 5.70 to 1445.55, NTPC by 1.30 to 124.10 and Tata Motor by 1.85 to 847.50.