There was no respite for the markets in India, which continued to grind lower despite a sharp fall seen on Tuesday.
There was still some after effects of the credit policy and worries over deficient monsoons which continued to play on the mind of investors.
Banking stocks continued to see selling pressure with stocks like ICICI Bank, Punjab National Bank, Axis Bank, Yes Bank among the losers.
The Bank Nifty lost a huge one per cent in trade. Smaller private sector banks like DCB and Lakshmi Vilas Bank also dropped in trade.
Shares in Nestle fell over 5 per cent after the Delhi Government said lab testing report showed that Maggi samples were found unsafe in national capital
Gitanjali Gems fell after the company deferred paying non-convertible debentures amidst cash crunch. Sun Pharma continued to see selling pressure and has now lost almost 10 per cent since declaring results that lagged estimates.
Meanwhile, markets across Asia were trading with losses with the Shanghai Composite and the Japanese Nikkei down in trade European markets and the US markets ended Tuesday lower following worries over a Greece deal.