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Indian markets shed over 0.9 per cent at the end of the session on Wednesday on the back of weak global cues.
Domestic sentiment was also hit after the Standard & Poors Ratings Services warned of downgrading India's credit rating. It said that there is at least a one-in-three likelihood of a downgrade of the sovereign rating on India within the next 24 months.
The BSE Sensex ended at 18,622.27, down 171.09 points or 0.91 per cent. The NSE Nifty ended at 5,649.35, down 55.25 points or 0.97 per cent.
On the BSE, the FMCG sector index was up 0.08 per cent and was the only sectoral index that witnessed an increase.
Realty sector index was down 4.77 per cent, power was down 2.09 per cent and banking sector index was down 1.37 per cent.
Among the Sensex, the top five gainers were ITC, Hero MotoCorp, RIL, Tata Steel and Bajaj Auto. The top five laggards were SBI, Hindalco, BHEL, Tata Power and M&M.
Most European stocks were down after the IMF said that the region's banks may need to shrink assets. Asian stocks fell on concerns that China’s economic slowdown and its territorial dispute with Japan were weighing on corporate earnings.
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