Sensex drops 694 pts; Nifty ends below 12,900

Sensex drops 694 pts; Nifty ends below 12,900

MUMBAI [Maha Media]: The equity benchmark indices corrected sharply and ended with heavy losses on Wednesday. The Nifty after opening above 13,100 level succumbed to selling pressure and ended near 12,850 mark. PSU banks advanced in a broader market correction.

As per provisional closing data, the barometer index, the S&P BSE Sensex, tumbled 694.92 points or 1.56% at 43,828.25. The Nifty 50 index fell 196.25 points or 1.5% at 12,858.75.

The Sensex hit a record high of 44,825.37 while Nifty scaled fresh high of 13,145.85 in early deal today.

The broader indices fell in tandem with main barometers. The S&P BSE Mid-Cap index lost 1.76% while the S&P BSE Small-Cap index fell 1.13%.

The market breadth was weak. On the BSE, 1,126 shares rose and 1,660 shares fell. A total of 178 shares were unchanged.

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