The market extended losses and hit fresh intraday low in mid-afternoon trade. At 14:17 IST, the barometer index, the S&P BSE Sensex, was down 119.65 points or 0.34% at 35,042.83. The Nifty 50 index was down 60.10 points or 0.57% at 10,524.65.
Among secondary barometers, the BSE Mid-Cap index was down 1.49%. The BSE Small-Cap index was down 1.40%. Both these indices underperformed the Sensex.
The market breadth, indicating the overall health of the market, was weak. On BSE, 803 shares rose and 1698 shares fell. A total of 138 shares were unchanged.
Telecom shares declined. Tata Teleservices (Maharashtra) (down 2.29%), Reliance Communications (down 1.71%), Bharti Airtel (down 0.71%) and MTNL (down 0.43%), edged lower. Vodafone Idea was up 0.67%.
Telecom tower infrastructure provider Bharti Infratel was down 1.52%.
Most realty shares slipped. Sunteck Realty (down 7.35%), Indiabulls Real Estate (down 6.5%), DLF (down 5.34%), Anant Raj (down 4.24%), D B Realty (down 3.09%), Housing Development and Infrastructure (HDIL) (down 3.06%), Unitech (down 3.03%), Peninsula Land (down 2.92%%), Godrej Properties (down 0.83%), Parsvnath Developers (down 0.69%), Prestige Estates Projects (down 0.31%), Mahindra Lifespace Developers (down 0.26%) and Oberoi Realty (down 0.17%), edged lower. Omaxe (up 0.32%), Sobha (up 0.46%) and Phoenix Mills (up 2.13%), edged higher.
Overseas, most European and Asian stocks were trading higher Wednesday, after upbeat earnings on Wall Street helped to restore an appetite for riskier assets.
Meanwhile, US President Donald Trump continued his criticism of the Federal Reserve, calling it his biggest threat as it was raising rates too fast. Trump had previously said the Fed has "gone crazy" and attributed last week's plunge on Wall Street to the US central bank.
On the data front, US industrial production rose 0.3% in September, according to the Federal Reserve. The number of job openings in the US reached another all-time high of 7.1 million in August, according a report released Tuesday morning by the Labor Department. The same report showed that American workers were voluntarily quitting their jobs at a rate of 2.4% in August, matching the July reading, which was the highest since 2001.
The National Association of Home Builders Confidence Index ticked up one point to 68 in October, though it remains down from a cycle high of 74, reached in December 2017.
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