The Indian stock market ended in the red for a second straight day on Wednesday, weighed down by high valuations and mixed global cues. The Sensex dropped 239.31 points to 81,312.32, while the Nifty fell 73.75 points to 24,752.45. FMCG stocks led the decline, with the Nifty FMCG index down 1.5%, alongside losses in other key sectors.