Sensex tanks 937 points; Nifty ends below 14,000

The domestic benchmark indices were feeble on Wednesday, down nearly 2 per cent, as selling pressure intensified in the noon deals.

The Sensex plunged 937.66 points, or 1.94 per cent to close at 47,409.93, while the Nifty ended at 13,967.50, down 271.40 points, or 1.91 per cent. The Nifty Bank and Financial Services led the losses while the pharma, metal and auto indices also reeled under pressure.

In the last four days, Sensex has lost over 2,500 points in a sell-off, which some analysts have attributed to pre-Budget nervousness and broader profit booking.

Analysts said investors of late have preferred taking profits off the table ahead of the Union Budget and F&O expiry.

(With inputs from agencies)