The domestic benchmark indices on Wednesday reversed their gains and fell over 1%.

The BSE Sensex tanked 382.90 points to close at 34,779.58, while the National Stock Exchange Nifty 50 closed at 10,453.05, down 24.20 points.

The indices were trading higher for most part of the day but an intensified selloff in auto and financial stocks around noon erased the gains, according to BloombergQuint. The indices had rallied on Wednesday’s morning session after encouraging second-quarter earnings from technology major Infosys and positive global cues. On Tuesday, Infosys reported its net profit for July-September at Rs 4,110 crore, up 13.8% since the same quarter last year.

On Tuesday, the markets had closed on a high note amid positive cues from international markets. Both the BSE Sensex and Nifty 50 ended at the highest mark since October 4.

Stocks of ITC, Coal India, Wipro, Infosys and Hindustan Unilever performed well on the Sensex, while those of Shares of HCL Technologies, Wipro, Coal India, Infosys and ITC gained the most.

The top losers on the Sensex were Yes Bank, Adani Ports, Maruti Suzuki, Tata Motors and Tata Steel, while the stocks of Indiabulls Housing Finance, Bajaj Finance, Yes Bank, Adani Ports and Bharat Petroleum declined the most.

The rupee was trading at 73.62 against the dollar after having opened at 73.77 a dollar. So far this year, the rupee has declined 13.5%.