The Indian equities markets benchmark Sensex was trading 358 points down in the afternoon session on Wednesday dragged by heavy selling pressure in telecom, banking, and auto stocks.
The 30 stock S&P BSE Sensex was trading at 57,630.42 points at 12.43 pm, which is 358.88 points or 0.62 per cent down from its previous day's close at 57,989.30 points.
The markets witnessed volatile trading. The Sensex opened in the positive at 58,198.64 points and surged to a high of 58,416.56 points in the early morning trade. The index slipped into negative at around noon. It dipped to a low of 57,621.42 points.
The Sensex had gained 696.81 points or 1.22 per cent on Tuesday.
The broader Nifty 50 of the National Stock Exchange was trading 85.70 points or 0.49 per cent down at 17,229.80 points from its previous day's close at 17,315.50 points. The Nifty had lost 197.90 points or 1.16 per cent on Tuesday.
Bharti Airtel dipped 2.18 per cent to Rs 703.60. HDFC slumped 1.69 per cent to Rs 2362.10. Kotak Bank dipped 1.64 per cent to Rs 1779.
There was heavy selling pressure in auto stocks. Mahindra & Mahindra slipped 1.36 per cent to Rs 773.95. Maruti Suzuki fell 1.20 per cent to Rs 7670.60.
Dr Reddy's Laboratories surged 3.63 per cent to Rs 4178.35. ITC surged 1.16 per cent to Rs 252.70. IndusInd Bank, Reliance Industries, UltraTech Cement and Tata Steel were among the major Sensex gainers.
( With inputs from ANI )
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