New Delhi: Markets ended in red on Wednesday tracking losses in index heavyweights amid weak cues from Asian peers.

The 30-share BSE index ended 171.43 points or 0.45 per cent lower at 38,193.92. The NSE Nifty settled 39.35 points or 0.35 per cent down at 11,278.

Major losers were SBI, Bajaj Finserve, Axis Bakn, ONGC, ITC, Bajaj Finance, ICICI Bank, Kotak Bank, HDFC Bank, Infosys, TCS, and HDFC, falling upto 4.46 percent.

On the other hand, major gainers were Tata Steel, RIL, Sun Pharma, Bharti Airtel, Asian Paint, Nestle, M&M, IndusInd Bank, Bajaj Auto, Powergrid, Tech Mahindra and Ultrachem, rising upto 3.04 percent.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with significant losses. Stock exchanges in Europe, however, were trading on a positive note in early deals. Global oil benchmark Brent crude was trading 1.33 per cent higher at USD 40.31 per barrel.

In the forex market, the rupee appreciated 5 paise to close at 73.55 against the US dollar.

In the previous session on Tuesday, the 30-share BSE index ended 51.88 points or 0.14 per cent lower at 38,365.35 while the broader NSE Nifty slipped 37.70 points or 0.33 per cent to 11,317.35.

Exchange data showed that foreign institutional investors sold equities worth Rs 1,056.52 crore on a net basis on Tuesday.