Sensex falls 561 points to close at 34,869; Nifty ends below 10,350

NEW DELHI: Equity indices finished in red on Wednesday with the benchmark BSE sensex falling over 550 points dragged by losses in banking and financial stocks.
After a volatile session, the 30-share BSE index plunged 561 points or 1.58 per cent to finish at 34,869; while the broader NSE Nifty closed 166 points or 1.58 per cent lower at 10,305.
ICICI Bank, IndusInd Bank, Power Grid, Axis Bank, SBI and Bharti Airtel were the top losers in the sensex pack with their shares falling up to 6.99 per cent.
While Asian Paints, ITC, Nestle India and Relaince were the top gainers, rising as much as 3.82 per cent.
On the NSE platform, sub-indices Nifty Private Bank, Bank, Financial Services and Media dragged as much as 4.01 per cent.
After opening on a positive note, the indices parred gains during the day amid heavy selloff in financial stocks.
On the currency front, the rupee erased its initial gains and provisionally settled lower by 6 paise at 75.72 against the US dollar, tracking volatile domestic equities amid strong US dollar.
Meanwhile, on a net basis, foreign institutional investors bought equities worth Rs 168.96 crore in the capital market on Tuesday, provisional exchange data showed.