Indian equity benchmarks continued their negative trade
in the afternoon session due to selling pressure in frontline counters. Sensex
and Nifty were seeing heavy losses of around 2% each. The fall of stocks was
led by shares from metal, power and utility counters.

Also Read | Why Apple fell behind Saudi Aramco in the most valuable company race

The Sensex is now trading at 53,081.18, down 1007.21 points
or 1.86% after fluctuating between 52,994.75 and 53,632.55. On the index, 5
stocks advanced while 25 stocks declined.

The broader indexes were trading in negative territory,
with the BSE Midcap index down 2.20% and the Small-cap index down 1.73%. On the
BSE sectoral front, Metal was down by 3.98%, Power was down by 2.98%, Utilities
was down by 2.93%, Consumer Durables was down by 2.86% and Bankex was down by
2.74% while there were no gaining sectoral indices on the BSE.

Also Read | Sensex falls 817 points while Nifty around 15,933 in early trade

The top gainers on the Sensex were HCL Tech up by 0.91%,
TCS up by 0.63%, Wipro up by 0.50%, Tech Mahindra up by 0.39% and Asian Paints
was up by 0.13%.

Among the losers were Indusind Bank down by 5.31%, Tata
Steel down by 4.21%, Bajaj Finance down by 4.04%, SBI down by 3.44% and Bajaj
Finserv was down by 3.22%.

Also Read | Swiggy shuts down delivery services in 5 cities. Know details

The Nifty is presently trading at 15,834.85, down 332.25
points or 2.06% after fluctuating between 15,824.40 and 16,041.95. On the
index, 3 stocks advanced and 47 stocks declined.

The top gainers on Nifty were HCL Tech up by 0.60%, TCS
up by 0.38% and Wipro up by 0.13%.

Among the losers were Hindalco down by 6.21%, Adani Ports
down by 6.11%, Indusind Bank down by 5.52%, Bajaj Finance down by 4.40% and
Tata Steel was down by 4.16%.

Also Read | Phillip Jefferson becomes fourth Black person to serve on Fed Reserve board

Asian markets were trading under pressure with Hang Seng
falling 397.47 points or 2% to 19,427.10, Jakarta Composite plunging 157.65
points or 2.31% to 6,658.55, Nikkei 225 trembling 464.92 points or 1.77% to
25,748.72, Shanghai Composite falling 9.74 points or 0.32% to 3,048.96, Straits
Times trembling 38.90 points or 1.21% to 3,187.17, KOSPI declining 42.19 points
or 1.63% to 2,550.08 and Taiwan Weighted was down by 389.57 points or 2.43% to
15,616.68.