India's benchmark stock indices extended their decline through midday on Monday, led by losses in auto and metal stocks, while public sector banks advanced.
Asian stocks declined along with sovereign bonds after hawkish signalling from the Federal Reserve stirred concerns that the U.S. central bank would continue to raise interest rates.
Hong Kong shares underperformed the region, falling as much as 3.4% as trading resumed after a holiday. Other benchmark indices also declined, driving the MSCI Asia Pacific to the lowest since December. China is in the middle of a weeklong holiday.
As of 1:13 p.m., the S&P BSE Sensex fell 232 points, or 0.35%, to 65,826.35, while the NSE Nifty 50 declined 86 points, or 0.44%, to 19,552.15.
Asian Paints Ltd., Bajaj Finserv Ltd., HCL Technologies Ltd., Hindustan Unilever Ltd. and Titan Co. were among the top gainers in the Nifty 50.
Whereas, Dr. Reddy's Industries Ltd., Eicher Motors Ltd., Hindalco Industries Ltd., ONGC Ltd. and Maruti Suzuki India Ltd. were among the top losers in the index.
The broader market indices were trading higher, with the S&P BSE MidCap rising 0.04% and the S&P BSE SmallCap gaining 0.59% by midday trade on Tuesday.
Thirteen out of the 20 sectors compiled by BSE Ltd. declined, while seven advanced. S&P BSE Auto and S&P BSE Oil & Gas fell the most.
The market breadth was skewed in favour of buyers. About 1,861 stocks rose, 1,786 declined, and 179 remained unchanged on the BSE.
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