The Sensex ended the day lower by 137 points, while the Nifty ended the day lower by 38 points. The Sensex has now lost almost 650 points in the last two days.
Stocks that dragged the Nifty lower in trade were stocks from the auto space which had run up sharply in the last few days. Mahindra and Mahindra fell as much as 4 per cent in trade, while stocks like Maruti Suzuki and Tata Motors from the auto pack also ended the day lower.
Select stocks from the oil and gas sector like ONGC and Reliance ended the day higher. Mid cap stocks saw some severe selling pressure for a second day in a row with Crompton Greaves, Jain Irrigation and Petronet LNG coming in for severe selling pressure. Aurobindo Pharma on the other hand ended the day a huge six per cent lower.
Railway stocks continued to extend declines for a second day following the Railway Budget with Texmaco Rail, Kalindee Rail and Titagorh Wagons among the losers.
IndusInd Bank which reported numbers that were in line with estimates ended the day flat. Select few mid cap stocks like Jubilant Food and HPCL saw buying interest and ended the day higher.
Meanwhile, most of the European markets were trading marginally lower with the German DAX, the UK's FTSE and the French CAC lower.