Mumbai, Apr 1 (GCBusiness) The BSE index on Wednesday dropped by 537 pts to 28,931.05 in opening trade on the negative Asian market.
The Nifty of the national stock exchange too fell by 128 pts to 8469.25.
Gaining over 1000 pts on Tuesday the Indian market slipped as heavy selling was witnessed in banks, finance, energy, IT and technology stocks.
In scrips, the Kotak Bank was the major loser, down by 7.05 pc to Rs 1204.95.
Other scrips that declined were Infosys by 3.49 pc to 617.95, SBI by 3.12 pc to 190.80, Tech Mahindra by 2.81 pc to Rs 549.05 and ONGC by 2.78 pc to Rs 66.40.
In gainers, IndusInd Bank was the star gainer up by 4.23 pc to Rs 366.
Followed by TCS by 0.60 pc to Rs 1833.90, Powergrid by 0.31 pc to Rs 159.50.
In the Asian market, Japan Nikki fell by 1.86 pc while E mini futures for the S& P 500 traded 1 pc lower.
In the US Dow Jones declined by 1.84 pc, the S & P lost 1.60 pc and the NASDAQ composite fell by 0.95 pc.