Sensex plummeted 334 points on Wednesday, tracking heavy losses in index heavyweights Reliance Industries, ICICI Bank and Larsen and Toubro amid a weak trend in global markets. At close, BSE index ended 333.93 points lower at 51,941.64 while the broader NSE Nifty declined 104.75 points to 15,635.35.
Larsen Toubro was the top loser in the Sensex pack, falling around 2%, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto. On the upper side, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers.
All the Nifty sectoral ended today's session in the red, with Nifty Auto, Nifty PSU Bank, and Nifty Realty indexes falling over 1 percent, each. Among auto space, shares of Tata Motors hit an over three-year high of Rs 358.25, up 1.5 percent, on the BSE in intra-day trade on Wednesday on the back of heavy volumes. However, the stock erased gains in the second half and ended the session 2.72 percent lower at Rs 343.25.
Further, Asian markets also traded weak today mainly reacting on a higher-than-expected jump in China's producer price index at 9% for May. European stocks steadied near record highs with investors holding off on taking big bets ahead of a policy decision from the European Central Bank and U.S. inflation reading later this week.