MUMBAI: Bombay Stock Exchange's Sensex ended at 11,405.73, down 289.51 points or 2.48 per cent to recover from an intra-day low of 10,740.76.
National Stock Exchange's Nifty closed at 3533.35, down 73.25 points or 2.03 per cent. The broader index touched a low of 3329.45 and high of 3604.40.
Meanwhile, gold prices rallied to an all-time high of Rs 13,745 in early trade on the bullion market on hectic stockists buying prompted by higher global advices as well as festival demand.
In the domestic market, standard gold (99.5 purity) firmed up by Rs 275 per ten grams to resume at Rs 13,745 from Tuesday’s closing level of Rs 13,470 and pure gold (99.9 purity) also hardened to Rs 13,810 from Rs 13,535.
Gold was trading at USD 887.90 an ounce, up USD 1.30 from New York's notional close on Tuesday. Silver ready (.999 fineness) also jumped to Rs 19,940 from Rs 19,685 on Tuesday.
Shares of Ranbaxy Laboratories reversed losses to surge 9.84 per cent on media reports the US Department of Justice had withdrawn a motion against the drugmaker, which was being probed for allegedly bringing adulterated and misbranded medications into the US.
Tata Power (5.68%), DLF (2.48%), Mahindra & Mahindra (2.11%) and Maruti Suzuki (1.49%) were the other gainers in the 30-share index.
Jaiprakash Associates (-9.41%), Wipro (-7.05%), State Bank of India (-6.61%), Satyam Computer (-6.07%) and Sterlite Industries (-6.07%) were under pressure.
Market breadth remained weak through the day. On BSE, 2151 declines outnumbered 457 advances.
