India's benchmark stock indices continued to decline through midday trade on Wednesday, falling nearly 1% as most sectors fell, with banks, realty, and pharma stocks leading the way.
The Sensex slipped below the 65,000 level and the Nifty under the 19,400 mark for the first time since Sept. 1.
As of 12.35 p.m., the S&P BSE Sensex was 598 points, or 0.91%, lower at 64,914.13, while the NSE Nifty 50 fell 179 points, or 0.92%, to 19,349.95.
The MSCI's Asia stock benchmark fell for the third day, taking its decline since a July high to just over 10%. Europe equity contracts and U.S. stock futures slipped after the S&P 500 dropped to a four-month low Tuesday.
Japan's Topix index fell 1.8%. Hong Kong's Hang Seng index declined 1%, while Australia's S&P/ASX 200 index fell 0.8%. China is in the midst of a week-long holiday.
The S&P 500 fell to a four-month low on Tuesday and yields on Tuesday. The Nasdaq 100 fell 1.8%.
HDFC Bank Ltd., Adani Enterprises Ltd., Hindustan Unilever Ltd., Nestle India Ltd. and Eicher Motors Ltd. were positively contributing to the Nifty 50.
Axis Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., State Bank of India, and Reliance Industries Ltd. were weighing on the index.
The broader market indices underperformed their larger peers. The BSE Midcap was down 1.47% and the BSE smallcap was lower by 0.9% through midday trade on Wednesday.
All 20 sectors compiled by BSE Ltd. declined, with realty, metals, and healthcare falling the most.
The market breadth was skewed in favour of the sellers. About 1,229 stocks rose, 2,302 declined, and 150 remained unchanged on the BSE.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
