Equity indices plunged on Wednesday with the benchmark BSE sensex falling over 850 points dragged by banking and financial stocks amid weak global cues. The 30-share BSE index fell 871 points or 1.74 per cent to close at 49,180; while the broader NSE Nifty plunged 265 points or 1.79 per cent to settle at 14,549. M&M, SBI, ICICI Bank, IndusInd Bank, Axis Bank, ITC and L&T were the major losers in the sensex pack falling as much as 3.97 per cent. While Asian Paints and PowerGrid were the only two shares which finished in green. On the NSE platform, except Nifty Pharma, all sub-indices finished in red with Nifty PSU Bank, Metal, Bank and Financial Services falling up to 3.30 per cent.