Benchmark indices further extended losses and hit fresh intraday low in afternoon trade. The Nifty breached 14,500 mark to hover above 14,400 during intraday trade. Auto and IT shares bucked weak market trend. Traders booked profits after recent strong gains.
At 13:20 IST, the barometer index, the S&P BSE Sensex, tumbled 535.04 points or 1.08% at 49,089.72. The Nifty 50 index dropped 156.60 points or 1.09% at 14,430.75.
Selling was broad based. The S&P BSE Mid-Cap index fell 0.97%. The S&P BSE Small-Cap index slipped 0.91%.
Sellers outnumbered buyers. On the BSE, 826 shares rose and 2,016 shares fell. A total of 136 shares were unchanged. In Nifty 50 index, 12 stocks advanced while 38 stocks declined.