Sensex drops nearly 900 points to 47,465

The benchmark indices, BSE Sensex and NSE Nifty, continued their downtrend to trade nearly 2 per cent lower in late session on Wednesday.

The Sensex was down 881 points or 1.82 per cent at 47,465. Nifty dropped 252 points or 1.77 per cent to 13,986.

The top gainers on the Sensex were Tech Mahindra, ITC, UltraTech Cement, HCL Tech and Bajaj Auto. The laggards were Axis Bank, Dr Reddy's, HDFC Bank, Titan and IndusInd Bank.

In the previous three sessions, the BSE Sensex has lost 1,444.53 points or 2.90 per cent and the NSE Nifty has shed 405.80 points or 2.77 per cent.

On Monday, the Sensex tanked 530.95 points or 1.09 per cent to close the session at 48,347.59; and the Nifty shed 133 points or 0.93 per cent to close at 14,238.90.

An agency report quoting analysts said investors of late have preferred taking profits off the table ahead of the Union Budget and F&O expiry.

Foreign investors sold equities worth Rs 765.30 crore on a net basis in the Indian capital market on Monday, exchange data showed.

Indian equity markets were closed on Tuesday for Republic Day (with inputs from PTI).

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