Sensex posts biggest drop of 2017, ends at 29,167

Weak global markets drag stocks; Benchmark indices end 1% lower

The Indian share markets saw their biggest fall of 2017 on Wednesday, amid weak global cues and continued selling in banking stocks.
 
Falling for a third straight session, the benchmark Sensex on the BSE ended at 29,167, down 317.8 points or 1.1 per cent, the most since December 2.  The Nifty50 index on the National Stock Exchange closed at 9,030.45, down 91 points or one per cent. Experts said the markets had been overheated and Wednesday’s drop should be seen as healthy. Last week, the benchmark indices had rallied nearly three per cent, with the Nifty touching record highs