Equity benchmark Sensex dropped 314 points on Wednesday tracking losses in index majors Reliance Industries, HDFC twins and Kotak Bank.

The 30-share index ended 314.04 points or 0.52 per cent lower at 60,008.33, extending losses for the second straight day. Similarly, the Nifty fell by 100.55 points or 0.56 per cent to 17,898.65.

Axis Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Reliance Industries, Kotak Bank, Bharti Airtel, Titan, Dr Reddy's and M&M.

On the other hand, Maruti, Asian Paints, PowerGrid and NTPC were among the gainers.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive.

Stock exchanges in Europe were largely trading with gains in mid-session deals.

Meanwhile, international oil benchmark Brent crude fell 0.90 per cent to USD 81.69 per barrel.