Sensex closed 80 points lower at 20,895 as profit booking continued in the capital market.
NSE Nifty was down 38 points 6215. Sensex and Nifty hit their lowest level in over one week.
The total turnover on BSE was down 16 per cent at Rs 1,874 crore against Rs 2,224 crore recorded on Tuesday.
Bank stocks and metal stocks dropped. Sentiments were hit after State Bank of India increased base rates of lending by 0.20 per cent to 10 per cent. Bharat Heavy Electricals after it reported 64 per cent fall in net profit to Rs 456 crore and 11 per cent decline in total income to Rs 9,482 crore.
Led by SBI, PSU bank stocks including Canara Bank, Bank of Baroda, Union Bank of India, Bank of India and Punjab National Bank shed 2.55 per cent to 3.71 per cent.
Major gainers include Neyveli Lignite (15%), Torrent Power (12%), Gujarat State Petroleum (6%), Wockhardt (5%), Muthoot Finance (5%), Divis Lab (4%), Bharti Infratel (4%) and Motherson Sumi (4%).
Prominent losers were Indian Bank (-8%), IRB Infra (-7%), Syndicate Bank (-6%), Federal Bank (-5%), Jubilant Food (-5%) and Oriental Bank (-5%).
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