Indian markets ended the session on Wednesday with a loss of over 1.1 per cent due to unwinding long trading positions in the wake of lack of institutional buying support amid weak global cues.
Domestic sentiment was also hit as 10.91 retail inflation in February has raised doubts over whether the Reserve Bank of India would reduce the policy rates on March 19.
The 30-share BSE index Sensex was down 216.94 points (1.11 per cent) at 19,347.98 and the 50-share NSE index Nifty was down 69.55 points (1.18 per cent) at 5,844.55.
Barring FMCG, all other BSE sectoral indices ended in the red. Among them, Banking index fell the most by 2.18 per cent followed by Consumer Durables 1.57 per cent, Auto 1.53 per cent and PSU 1.41 per cent. On the other hand, FMCG index was up 0.5 per cent.
European stocks were unchanged near the highest level in 4 1/2 years as investors awaited reports on American retail sales and euro zone industrial production.
Asian shares were down as investors felt that the recent rally in global equities was running out of steam.
Japan’s Nikkei 225 was down 75.15 points or 0.61 per cent at 12,239.66 and Hong Kong’s Hang Seng was down 335.07 points or 1.46 per cent at 22,555.53.