Equity indices suffered losses during early hours on Wednesday with all sectoral benchmarks in the negative zone.
At 10:15 am, the BSE S&P Sensex was down by 323 points or 0.61 percent at 52,256 while the Nifty 50 slipped by 103 point or 0.65 percent to 15,644.
Nifty PSU bank dropped by 0.8 percent, auto by 0.7 percent, and IT by 0.6 percent.
Among stocks, Tata Consumer Products dipped by 2.6 percent to Rs 749.70 per share. The other prominent losers were Cipla, Dr. Reddy’s, Nestle India, Axis Bank, and Tata Motors.
However, IndusInd Bank gained by 1.6 percent. Bajaj Finserv, Titan, and Hindustan Lever too traded with a positive bias.
Meanwhile, Asian shares stayed stuck at seven-month lows on Wednesday, as markets continued to digest a storm in Chinese equity markets.
MSCI’s broadest index of Asia Pacific shares outside Japan dropped 0.35 percent as regulatory crackdowns in China roiled stocks in the technology, property, and education sectors.
Japan’s Nikkei slid 1.01 percent but Hong Kong bucked the trend, rising 0.63 percent after closing at its lowest level since November the day before. (ANI)
