At 14:28 IST, the barometer index, the S&P BSE Sensex, was down 515.71 points or 0.82% to 62,162.30. The Nifty 50 index lost 155 points or 0.83% to 18,505.30.
In the broader market, the S&P BSE Mid-Cap index slipped 0.54% while the S&P BSE Small-Cap index shed 0.08%.
The market breadth was negative. On the BSE, 1,643 shares rose and 1,844 shares fell. A total of 156 shares were unchanged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose to 7.258 as compared with 7.221 at close in the previous trading session.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.6925, compared with its close of 82.49 during the previous trading session.
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MCX Gold futures for 3 February 2023 settlement lost 1.22% to Rs 54,005.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.41% to 104.20.
The United States 10-year bond yield fell 0.32% to 3.492.
In the commodities market, Brent crude for February 2023 settlement declined 62 cents or 0.75% to $82.08 a barrel.
Buzzing Index:
The Nifty Metal index fell 0.99% to 6,738.40. The index advanced 1.86% in three trading sessions.
Welspun Corp (down 3.61%), Jindal Steel & Power (down 2.48%), Hindustan Copper (down 2.25%), JSW Steel (down 1.72%), Tata Steel (down 1.33%), National Aluminium Company (down 1.14%), Steel Authority of India (down 1.12%), Hindalco Industries (down 1.02%), Vedanta (down 0.95%) and Jindal Stainless (down 0.86%) were the top losers.
On the other hand, MOIL (up 3.45%) Ratnamani Metals & Tubes (up 1.55%) and Hindustan Zinc (up 0.3%) edged higher.
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