The S&P BSE Sensex was down 500 points, or 1 per cent, at 48,660 and the broader Nifty50 slipped below 14,700-level. Hindustan Unilever fell 3 per cent and was the top Sensex laggard, followed by Mahindra & Mahindra, IndusInd Bank, and ICICI Bank (down 2% each).
The Nifty sectoral indexes were mixed, with Nifty IT index, down 1.4 per cent, bleeding the most. On the other hand, Nifty PSU Bank index was up over 4 per cent.
The broader markets, meanwhile, continued to outrun their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.1 per cent and 0.4 per cent higher, respectively.