Continuing Tuesday's trend Indian stock market plunged further on weak global cues emerging from the US Federal Reserve report and Japanese industrial export data.

The Bombay Stock Exchange benchmark index fell 149.80 points or 0.82 per cent from its previous close to end the day at 18,070.19. The 30-scrip index, which started the day in red at 18,177.35, however, climbed to a high of 18.263.88 during the day's trade, but could not hold on to the gain on selling pressure.

The broad-based Nifty finished the day with a fall of 40.10 points or 0.73 per cent at 5,420.60.

Fresh concerns over quick recovery of the global economy after the Federal Reserve's denied to do away with the stimulus measures and Japan release below-expectation machinery orders data played spoilsport for the market on Wednesday.

Stocks of Tata Steel dropped the most among the Sensex constituents. The scrip lost 3.24 per cent of its previous close to end the day at Rs.520.40 per share. Among other HDFC, Wipro and Mahindra and Mahindra were the other companies which fell over two per cent during the day's trade.