Sensex closes more than 1% lower as crude prices dampen sentiment

Indian shares ended lower on Wednesday, dragged by financials and IT stocks, as sentiment was dented after crude prices hovered near a four-year high, while investors kept a cautious stance ahead of the central bank policy meet this week.

The benchmark Sensex closed down 1.51 percent at 35,975.63, its lowest close since July 9.

The broader Nifty ended 1.36 percent lower at 10,858.25, closing below 10,900 level for the first time in nearly three months.

Shares of Tata Consultancy Services Ltd ended 4.2 percent weaker and contributed to over a fifth of the NSE index's declines, while ICICI Bank Ltd closed 3.3 percent lower.

Auto stocks tumbled with Mahindra & Mahindra Ltd and Eicher Motors Ltd closing down over 6 percent each.