Sell-off continued in domestic markets on the third day in a row on Wednesday as both Sensex and Nifty dived to hit their lowest in three years in the final few minutes of the trade.

At close, Sensex plunged over 1,709.58 points at 28,869.51. It had opened at 30,968.84 and touched an intra-day high of 31,101.77 earlier in the day.

Similarly, Nifty was down 498.25 points at 8,468.80.

“About 392 shares have advanced, 1947 shares declined, and 146 shares are unchanged,” reported moneycontrol.

The sector-wide selloff in the Indian markets was led by heavy selling in banking and finance stocks.

On the Nifty50, the major gainers included Zee Entertainment, ONGC, Yes Bank, ITC and SBI. Whereas, the major laggards of the day included IndusInd Bank, Bharti Infratel, Kotak Mahindra Bank, Bajaj Finance and Power Grid Corp.

(With input from agencies)