IT selloff weighs on markets; PSU banks lead recovery from intraday lows

Amid heightened market volatility, benchmark indices ended lower on Wednesday due to weak global cues and persistent macroeconomic concerns. The key highlight of the session was the sharp decline in IT stocks, which dragged the markets lower, while banking shares provided significant support and helped the benchmarks recover from intraday lows.

The Sensex, after opening gap-down, extended its decline during the first half of the session to hit an intraday low of 73,492.60, down 1,157.24 points or 1.55%, largely weighed down by IT stocks.