Rupee’s weakness against the US dollar also influenced market mood.
In the 30-share Sensex kitty, 21 stocks were in the red.
Momentum oscillator Relative Strength Index, or RSI, showed 68 stocks in the oversold zone.
YES Bank finished as top loser in the Sensex pack, declining 3.34 per cent to Rs 134.65.
Dalal Street experts blamed higher market valuation for the fall on Wednesday.
The BSE Auto index was among the worst performers in Wednesday’s trade.
Stock traded 2.49 per cent higher at Rs 505.05 on BSE around 10:30 am.
Market participants now await April industrial growth prints and May retail inflation numbers.
Barring FMCG and capital goods indices all other sectoral indices ended with gains on BSE.
Losses in the HDFC twins, Kotak Mahindra Bank, ONGC and YES Bank weighed on Sensex.
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