Sensex skids 422 points to close at 38,071; Nifty tests 11,200

Equity indices finished lower on Wednesday with the benchmark BSE sensex falling over 400 points dragged by auto and IT stocks.The 30-sahre BSE index fell 422 points or 1.10 per cent lower to finish at 38,071. While, the broader NSE Nifty settled 98 points or 0.86 per cent lower at 11,203.