Sensex slides more than 1% amid liquidity concerns

Indian shares ended more than one percent lower on Wednesday, dragged by financial stocks such as Indiabulls Housing Finance Ltd and Yes Bank Ltd amid liquidity concerns.

The benchmark BSE Sensex closed 1.09 percent lower at 34,779.58 while the broader NSE Nifty ended 1.24 percent weaker at 10,453.05. Indian markets have been facing a liquidity crunch owing to a depreciating rupee and higher oil prices.

Indiabulls Housing ended 14.3 percent lower and was the top percentage loser on the Nifty.

Reliance Industries Ltd dropped 1.1 percent ahead of the company's September quarter earnings due later in the day.