Indian markets ended lower on Wednesday erasing earlier gains. At the close, the benchmark 30-share index, BSE Sensex lost 90.42 or 0.28% at 31,833.99 with 23 components registering drop. Meanwhile, the broad based NSE Nifty went down by 32.15 or 0.32% at 9,984.80 with 43 components posting drop.

Biggest losers in the 30-share index were Tata Motors (2.02%), State Bank Of India (1.97%), Dr Reddy'S Laboratories (1.47%), Tata Steel (1.40%), Kotak Mahindra Bank (1.22%), and Maruti Suzuki India (0.98%).

On the other hand, Bharti Airtel (5.04%), Tata Consultancy Services (1.66%), Wipro (1.43%), Mahindra & Mahindra (1.30%), Hindustan Unilever (0.32%), and Axis Bank (0.31%) were the major gainers in the Sensex.

Market breadth was negative with 882 advances against 1,654 declines.

Cochin Shipyard topped the value chart on the BSE with a turnover of Rs. 548.82 million. It was followed by Adani Ports and Special Economic Zone (Rs. 526.77 million), Avenue Supermarts (Rs. 516.16 million) and P I Industries (Rs. 512.28 million).

The volume chart was led by South Indian Bank , The with trades of over 11.63 million shares. It was followed by Sanwaria Consumer (9.34 million), Jaiprakash Associates (8.18 million) and HDFC FMP - 3360 D - March 2014 (1) - Series 30 - Regular Plan - Growth (7.93 million).