Mumbai : Shaky trades in auto and banking stocks and some hammering of heavyweight stocks weakened Indian shares Wednesday, with a key index falling 0.62 percent.
Bombay Stock Exchange sensitive index (Sensex) closed 90.46 points, or 0.62 percent, lower at 14,363.26 points and 18 of 30 shares that comprise its basket ended in the red.
Similarly, the broader 50-isue National Stock Exchange (NSE) index, Nifty, which recorded its all-time closing high at 4,278.10 points the day before also closed 0.75 percent, or 31.90 points, lower at 4,246.20 points.
"The market was overbought and a consolidation was but natural," said an analyst with a leading brokerage here.
Leading the major losers were top multi-utility vehicle maker Tata Motors, down 2.60 percent at Rs.707.95, followed by tobacco major ITC, down 2.55 percent at Rs.166.35, and Reliance Communications, down 2.46 percent at Rs.510.50.
State Bank of India and its private sector rival ICICI Bank also took a beating with their shares down 1.42 percent each.
Tata Steel led the gainers, up 5.01 percent at Rs.658.90, followed by Reliance Energy, up 3.55 percent at Rs.570.45, and Hindustan Lever, up 2.19 percent at Rs.198.45.
State-run Bharat Heavy Electricals, two-wheeler maker Hero Honda, state-owned National Thermal Corp, leading software exporter Wipro, housing finance company HDFC and leading car maker Maruti Udyog were among the other major gainers.