The Indian equity benchmarks fell sharply on Wednesday dragged by index heavyweights like HDFC Bank, HDFC, Kotak Mahindra Bank, Tata Consultancy Services, Infosys and Hindustan Unilever. The benchmarks opened lower and extended losses in noon deals owing to weakness in private sector banking, pharma and information technology shares. The Sensex fell as much as 518 points and Nifty 50 index briefly fell below its important psychological level of 15,200.
The Sensex ended 400 points lower 51,703.83 and Nifty 50 index fell 105 points to close at 15,208.90.
Seven of 11 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Pharma index’s nearly 2 per cent fall.