The Sensex on Wednesday fell 115 points to 34,501, while the Nifty slipped 44 points to 10,571.
Financials dragged the Nifty Bank, leading to a fall of 228 points to 24,814.
Nifty Midcap 100 also saw a fall of 81 points to 19,913.
Fall in equity market was similar to that of money market. Rupee was trading at 14-month low at 7.17% and 2028 bond yield hit its lowest level of 7.77% since issuance.
Bharti Airtel gained 3% after company announced merger of Bharti Infratel and Indus Towers.
In the midcap space, PC Jeweller, Ipca Labs and Federal Bank were major laggards while RBL Bank, Mindtree and DHFL gained.
All-round fall kept market breadth in favour of declines, with Advance-decline ratio at 1:2.
Put-call ratio too slips to the level of 1.56 from Tuesday’s level of 1.64.
On the earnings front, UltraTech reported earnings in-line with estimates with sales volume seeing a growth of 32% against the estimate of 28%. Profit came in at Rs 488 crore against the poll of Rs 530 crore. Bajaj Corp slipped 6% post Q4 earnings.
A day ahead of expiry, 10,600 Nifty Put shed 11 lakh shares, whereas 10,600 Call added 9 lakh shares in the open interest.
The Nifty April Futures closed with a discount of 2 points against Tuesday’s 7-point premium.
On the global front, Asian markets closed in the red. The Shanghai slipped 11 points, while the Nikkei fell 63 points and the Hang Seng closed with a fall of 308 points.
First Published: IST