Indian equities ended lower on Wednesday erasing earlier gains. Both Sensex and Nifty traded below 1-month low. At the close, the benchmark 30-share index, BSE Sensex lost 306.33 or 0.88% at 34,344.91 with 24 components posting drop. Meanwhile, the broad based NSE Nifty fell by 106.35 or 1.01% at 10,430.35 with 42 components registering drop.

Biggest losers in the 30-share index were Tata Steel (6.57%), Oil & Natural Gas Corporation (4.75%), Dr Reddy's Laboratories (2.92%), I T C (1.92%), Adani Ports and Special Economic Zone (1.80%), and Reliance Industries (1.58%).

On the other hand, State Bank Of India (3.56%), Cipla (1.60%), Larsen & Toubro (0.88%), NTPC (0.82%), Tata Motors (0.49%), and Mahindra & Mahindra (0.05%) were the major gainers in the Sensex.

Market breadth was negative with 1,011 advances against 1,373 declines.

State Bank Of India topped the value chart on the BSE with a turnover of Rs. 1,252.05 million. It was followed by Strides Shasun (Rs. 903.23 million), PC Jeweller (Rs. 761.26 million) and Vedanta (Rs. 730.24 million).

The volume chart was led by Reliance Communications with trades of over 11.04 million shares. It was followed by State Bank Of India (4.76 million), PC Jeweller (3.87 million) and Suzlon Energy (3.38 million).