Indian markets continued to drop  for the third day on Wednesday.Both Sensex and Nifty traded below 36-month low.

At the close, the benchmark 30-share index, BSE Sensex lost 1,709.58 or 5.59% at 28,869.51 with 28 components registering drop.  Meanwhile, the broad based NSE Nifty went down by 498.25 or 4.75% at 8,541.50 with 44 components posting drop.

IndusInd Bank (23.90) Power Grid Corporation of India (11.29), Kotak Mahindra Bank (11.23) and HDFC Bank (9.92) were the biggest losers in Sensex

On the other hand, major gainers in the 30-share index were Oil & Natural Gas Corporation  (9.83%),  and I T C  (0.97%).

Market breadth was negative with 349 advances against 1,853 declines.

Asian Paints  topped the value chart on the BSE with a turnover of Rs. 296.41 million.  It was followed by Bandhan Bank  (Rs. 229.26 million), UltraTech Cement  (Rs. 176.26 million) and Hindustan Unilever  (Rs. 173.25 million).

The volume chart was led by Moh  with trades of over 6.45 million shares.  It was followed by Punjab National Bank (2.53 million), L&T Finance Holdings  (1.49 million) and Motherson Sumi Systems  (1.02 million).