Mumbai: The benchmark BSE Sensex declined further by about 222 points to 29,263.74 and the NSE Nifty slipped below the 9,100-mark in early trade on Wednesday due to selling in pharma, auto and oil stocks.
The 30-share Sensex fell by 221.71 points, or 0.75%, to 29,263.74 with 25 of its constituents trading the negative zone. The barometer had lost 163.54 points in the previous two sessions.
Sustained selling by investors amid a weak trend in Asian markets following overnight losses at the US market led to fall in stocks, brokers said.
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A depreciating rupee against the dollar also weighed on the sentiment.
All BSE sectoral indices led by metal, auto and realty were trading in the red, with losses up to 1.30%.
Bharti Airtel fell by over 2%, Mahindra & Mahindra by 1.9%, ICICI Bank by 1.8% on BSE.
Among pharma stocks, Cipla, Sun Pharma and Dr Reddy fell up to 1 per cent.
The NSE Nifty plunged by 80.40 points, or 0.88%, at 9,041.10 points.
Among other Asian markets, Hong Kong’s Hang Seng fell 1.39 per cent and Shanghai Composite shed 0.77 per cent while Japan’s Nikkei was down 2.01% in early trade on Wednesday.
The US Dow Jones Industrial Average ended 1.14% lower on Tuesday.