HDFC was the top Sensex loser, falling 2.36 per cent followed by Kotak Mahindra Bank, HDFC Bank, Bharti Airtel, Sun Pharma, Maruti Suzuki India, Mahindra & Mahindra and Asian Paints. 
HDFC was the top Sensex loser, falling 2.36 per cent followed by Kotak Mahindra Bank, HDFC Bank, Bharti Airtel, Sun Pharma, Maruti Suzuki India, Mahindra & Mahindra and Asian Paints. 
Benchmark indices ended lower on Wednesday after investors booked profit amid concerns over inflation and supply constraints. Despite a strong start, the 30-share index fell 304.48 points to close at 57,684.82. During the day, it tanked 420.71 points or 0.72 per cent to 57,568.59.
Nifty dipped 69.85 points or 0.4 per cent to finish at 17,245.65.
HDFC was the top Sensex loser, falling 2.36 per cent followed by Kotak Mahindra Bank, HDFC Bank, Bharti Airtel, Sun Pharma, Maruti Suzuki India, Mahindra & Mahindra and Asian Paints.
Dr Reddy's Laboratories, Tata Steel, ITC and Power Grid were the top Sensex gainers, rising up to 2.31%.
Of 30 Sensex stocks, 17 ended lower.
"After the recent rally, market is getting cautious. Volatility is back due to inflationary pressures triggered by supply constraints. While consistently rising input cost and fall in demand due to surge in Covid cases in parts of the world, war & high commodity prices are impacting earnings growth which can lead to downgrade in outlook," said Vinod Nair, Head of Research at Geojit Financial Services.
BSE mid-cap and small-cap indices gained 92 points and fell 5 points, respectively.
On the sectoral front, metal shares were the top gainers with the BSE metals index rising 340 points to 22,587. Banking shares were the top losers with BSE bankex falling 337 points to 41,330.
The market breadth was negative with 1,461 shares ending higher against 1,937 stocks in the red. 127 shares were unchanged.
Market cap of BSE-listed firms stood to Rs 260.05 lakh crore.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities said, "Volatility has continued to be the mainstay as the market is aware of some perils that could quickly snowball into a serious crisis going ahead. Despite some greenshoots in the form of FIIs turning net buyers in recent trades, investors remain wary of the Ukraine conflict, rising US yields and fluctuating crude oil prices which can turn the tables."
"On intraday and daily charts, Nifty is holding a higher bottom formation but at the same time it is consistently facing resistance near 17440. For the traders, the Nifty support has shifted to 17200 from 17000. We expect the level of 17350-17440 if the index succeeds to trade above 17200. On the flip side, dismissal of 17180 may intensify further weakness up to 17100-17040," added Chauhan.
On Tuesday, Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.
Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 384.48 crore on Tuesday, according to stock exchange data.
Equity exchanges in Tokyo, Hong Kong, Seoul and Shanghai ended with gains after the US stocks ended largely higher in the overnight session. European stocks were also trading higher.
Meanwhile, international oil benchmark Brent crude jumped 2.12 per cent to $117.8 per barrel.
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