At 14:32 IST, the barometer index, the S&P BSE Sensex, was at 59,148.38, declining 929.5 points or 1.55%. The Nifty 50 index traded 248 points or 1.39% lower at 17,606.45.
The sell off was seen in broader market as well. The S&P BSE Mid-Cap index was down 1.35% while the S&P BSE Small-Cap index fell 1.12%.
The market breadth was weak. On the BSE, 1237 shares rose and 1977 shares fell. A total of 164 shares were unchanged.
Buzzing Index:
The Nifty Bank index slumped 724 points or 1.9% to 37,446.95, snapping its three day rising streak. The banking index gained 3.3% in three trading sessions.
ICICI Bank (down 2.79%), RBL Bank (down 2.57%), IDFC First Bank (down 2.35%), HDFC Bank (down 2.31%), IndusInd Bank (down 2.08%) and Axis Bank (down 1.98%) were top losers in banking space.
Stocks in Spotlight:
Websol Energy System jumped 8.34% to Rs 67.55 after its solar module received MNRE approval. he approval has been granted under the list of "Approved Module Manufacturer (ALMM) issued by the Government of India". The company has also received approval of its module from Bureau of Indian Standards (BIS) and IEC 61215.
Bharat Heavy Electricals (BHEL) rose 5.71% to Rs 60.15 after the company won an order from Goa Shipyard for supplying upgraded super rapid gun mount (SRGM).
Numbers to Track:
In the foreign exchange market, the partially convertible rupee fell to 74.0550 from its previous closing of 73.8375.
MCX Gold futures for 5 October 2021 settlement fell 0.19% to Rs 45,982.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.21% to 93.578.
In the commodities market, Brent crude for November 2021 settlement rose 60 cents or 0.76% to $79.32 a barrel.
The yield on 10-year benchmark federal paper rose to 6.203% from its previous close of 6.209%.
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