The Sensex on the Bombay Stock Exchange plummeted 349 points to 27,527.22 while the National Stock Exchange Nifty 50 had dropped below the 8,600-mark at closing on Wednesday. Nifty ended at 8,514, its lowest point in three months.

According to analysts, investors are treading cautiously, keeping in mind the upcoming United States presidential election. The market fell after a poll showed that Republican nominee Donald Trump was leading the race, reported Business Standard. According to many investors, Democratic candidate Hillary Clinton is a more market-friendly nominee. Other factors include a dipping oil price and weak Asian stocks.

As many as 1,647 shares declined while only 611 shares gained and 72 remained unchanged. The major losses were in auto, banks, realty and telecom stocks. The only exception in the realty sector was Godrej Properties, whose stocks rose 0.92% after the company announced that it has sold more than six lakh square feet of villas on its launch day at the Godrej Golf Links township in Greater Noida.