The BSE Sensex fell for the fourth session in a row Wednesday to 20-month low, down over 72 points at 15,792.41 amid weak trend in Asia and a dip in banking stocks, which have been hit by Moody's downgrade of SBI.
In Asia, key indices in Japan, Singapore, South Korea and Taiwan closed down between 2.33 percent and 0.09 percent. China and Hong Kong markets were closed Wednesday.
In Europe, the CAC, the DAX and the FTSE were up between 2 percent and 1 percent in the afternoon.
Had there not been a smart rise in ITC, HDFC, Infosys, L&T, Jaiprakash and DLF, the fall in Sensex would have been much more pronounced.
Overall, 16 out of 30 Sensex scrips closed with losses while others settled with gains. Besides SBI, ICICI Bank tumbled 2.72 percent and HDFC Bank (2.65 percent). Other major losers were Hindalco (3.65 percent), Jindal Steel (2.55 percent), BHEL (2.36 percent), Maruti Suzuki (1.95 percent), Wipro (1.91 percent), HUL (1.53 percent) and RIL (0.67 percent).
However, Jaiprakash Associates rose 3.86 percent, DLF (2.63 percent), Sun Pharma (1.70 percent), Coal India (1.55 percent), ITC (1.46 percent), Tata Power (1.39 percent), HDFC (1.09 percent), Tata Steel (0.86 percent), M&M (0.84 percent) and L&T (0.5 percent).
The total market breadth on the BSE remained negative with 1,642 counters losing ground, as against 1,086 finishing with losses. Total turnover declined to Rs 2,373.27 crore from Rs 2,613,94 crore Tuesday.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will remain closed Thursday, October 6, for "Dassera".