BSE Sensex fell to its lowest level in nearly three weeks on Wednesday as stocks favoured by overseas investors such as ICICI Bank declined, following heavy foreign sales in derivatives and cash shares in the previous session. Foreign investors sold index futures worth 28.17 billion rupees ($443.13 mln) and shares worth 15.71 billion rupees on Tuesday, signalling unwinding of long positions amid a selloff in global markets. India's NSE Nifty index slumped more than 3 percent in the previous session, posting its biggest daily loss since the rupee crisis in 2013 as a continued slide in oil prices hit emerging markets. The benchmark BSE index fell 0.29 percent to close at 26,908.82, while the broader NSE index ended 0.31 percent at 8,102.10. Stocks favoured by overseas investors led the losses. ICICI Bank fell 2.7 percent, while Tata Motors lost 1.5 percent. However, energy stocks gained. Reliance Industries , which lost 4.5 percent in the previous session, rose 2.2 percent, while Oil and Natural Gas Corp ended 1.5 percent higher. ONGC fell 5.7 percent on Tuesday. No respite for mkts as Sensex drops 79 pts to three-week low (PTI) After Tuesday's crash, the benchmark Sensex today fell further by 79 points to end at three-week low of 26,908.82 on sharp losses in bluechips, including ICICI Bank, ITC, TCS and Hindalco, amid continued capital outflows. The NSE Nifty index also ended with a loss of 25.25 points at 8,102.10 - its weakest close since December 17. Market participants said trading was volatile and sentiment remained weak as data showed foreigners yesterday sold shares worth over Rs 1,570 crore on the Indian bourses. The 30-share BSE Sensex today fell 78.64 points, or 0.29 per cent, to close at 26,908.82. The gauge shuttled between 26,776.12 and 27,051.60 intra-day. The Sensex had witnessed its worst crash in five and a half years as stock markets globally went into a tailspin amid speculation about probable exit of Greece from the Euro region and oil prices cracking below USD 50 mark. "Global markets remained volatile today amidst lack of cues and further depth in oil prices kept market players on the edge of their seats," said Bonanza Portfolio, Associate Fund Manager, Hiren Dhakan. Wednesday is the third straight session of decline with the Sensex having lost 980 points in this period. Meanwhile, the 50-scrip Nifty after breaching the key 8,100-mark intra-day to touch a low of 8,065.45, ended at 8,102.10, down 25.25 points, or 0.31 per cent. Hindalco shares emerged the biggest loser among 30 Sensex components and 50 Nifty constituents. Shares of ICICI Bank, TCS, GAIL and BHEL also weighed heavily on the indices. Bucking the trend, some stocks like Hindustan Unilever, RIL and NTPC rose on value-based buying, traders said. Elsewhere in Asia, markets rebounded and European indices were trading with goods gains amid speculation that inflation data due today will strengthen the case for more ECB stimulus. Sectorally, the BSE Metal index suffered the most by losing 1.42 per cent, followed by Banking (0.65 per cent), IT (0.49 per cent) and Realty (0.27 per cent) among others.