Markets moved backward and remained under pressure through the day on the back of profit booking after huge rally seen on Tuesday. Realty, FMCG, oil, metal, telecom, capital goods, power and select financial stocks witnessed selling pressure in today's trade. Weak Asian markets added some fuel to negative sentiments. Top contributors responsible for this sell off were Reliance Industries, ONGC, NTPC, ITC, Sterlite Ind, Bharti Airtel, SAIL, Reliance Communication and HDFC Bank.

However, select buying was seen in technology, pharma and auto stocks. There was lack of buying interest in midcap and small cap stocks, both indices ended lower by 7.84 points and 8.02 points at 5,829.17 and 6,974.37, respectively.

Benchmark indices were in bears' grip and witnessing a bit of choppiness at lower levels. The Sensex closed with a loss of 150.76 points or 1% at 14,899.10 and the Nifty lost 56.25 points or 1.25% to 4447.75. Both indices hit an intraday low of 14,766.01 and 4419.45, respectively.

Inflation is expected to be around same level of 12.40% for the week ended August 23, which did not play any role in today's trade.

Amongst frontliners, Sterlite Industries fell 3.69%, NALCO -3.52%, ABB -3.09%, ONGC -2.97%, HDFC Bank -2.80%, Reliance Industries -2.75%, Unitech -2.74% and ITC -2.62%. However, BPCL jumped up by 3.97%, GAIL 3.49%, Maruti Suzuki 3.37%, Hindalco 2.30%, Tata Power 2.22% and Jaiprakash Associates 1.79%.

BSE Realty Index collapsed like a pack of card, plunged 171.55 points or 3.2% to 5,195.72. Indiabulls Real crashed over 10%. Peninsula Land, HDIL, Ansal Properties, Puravankara Projects, Unitech, Anant Raj Ind and Mahindra Life lost 2-4%.

FMCG stocks like ITC, HUL, Nestle, Godrej Consumer and United Spirits have lost ground. Index fell 1.93% to 2,212.58.

Oil & Gas stocks were the main draggers for both frontline indices. Index slipped 1.81% or 181.31 points to 9,844.65 due to selling in ONGC, Reliance Industries, Essar Oil, RNRL and Reliance Petroleum. Crude moved back above USD 110 a barrel on the NYMEX.

Metal stocks also lost their shine. This includes Hind Zinc, Gujarat NRE Coke, JSW Steel, Sterlite Ind, NALCO, Jindal Steel and SAIL fell 2.5-4%. Index ended lower by 198.75 points or 1.61% at 12,182.90.

Power Index fell 1.15% to 2,655.59 as selling pressure seen in Reliance Infrastructure, CESC, Power Grid Corp, NTPC and Suzlon Energy.

Capital Goods stocks like ABB, Areva T&D, Crompton Greaves, Siemens, Punj Lloyd, Alstom Projects, BHEL and L&T finished weak. Index lost 115.06 points or 0.94% to 12,188.18.

Bankex ended with marginal loss of 11.79 points at 7,434.73. Axis Bank, HDFC Bank and Kotak Mahindra ended lower. SBI, ICICI Bank, Union Bank, PNB and Bank of Baroda have gained.

However, IT Index gained 18.77 points to settle at 4,085.70 as Indian Rupee depreciated further and went above 44.5 a dollar. Financial Tech, NIIT Tech, Rolta, Tech Mahindra, HCL Tech and Infosys surged.

Pharma stocks like Sun Pharma Advanced, Wockhardt, Piramal Health, Biocon, Cadila Health, Lupin, Dishman Pharma and Dr Reddys Labs ended higher. Healthcare Index rose 11.95 points to 4,350.18.

Dr Reddys Labs went up by 1.22%. Antares Pharma is in pact with Dr Reddys for Dermatology drug. The company will clinically develop and market this drug while Antares Pharma will hold rights to manufacture Dermatology drug.

European Union has finalised Daiichi's Ranbaxy acquisition. The stock rose over half a percent.

Most active shares on the bourses were Reliance Industries, ICICI Bank, SBI, Reliance Infra, SBI, Resurgere Mines and Austral Coke.

Total turnover traded in markets stood at Rs 64659.23 crore. This includes Rs 12,896.74 crore from NSE Cash segment, Rs 46,290.50 crore from NSE F&O and rest Rs 5,471.99 crore from BSE Cash segment.

Market breadth ended slightly weak. About 1459 shares have advanced while 1422 shares declined. Nearly 294 shares remained unchanged.

Asian markets ended weak. Hang Seng fell 0.95%, Jakarta -1.93%, Nikkei -1.04%, Straits Times -2.97%, Taiwan Weighted -2.62%. Shanghai and Kospi closed flat.