Yes Bank, Tech Mahindra, Cipla, Dr Reddy's and ONGC led the pack of Nifty gainers.Domestic stock markets started Wednesday's session on a negativenote.
At 9:22 am, the SP BSE Sensex declined 158.54 points, or 0.43 per cent, to trade at 36,367.60.
The NSE Nifty50 index dropped 53.25 points or 0.48per cent to trade at 10,955.05.
The Indian rupee on Wednesday crashed below the 73 mark against the dollar for the first time ever on strong demand for the American currency.
Asian shares ticked down on Wednesday and the euro held at six-week lows as Italy's mounting debt and Rome's budget plan set it on a collision course with the European Union.Induslnd Bank (-1.35%), Asian Paints (-1.45%), Larsen Tourbo (-1.46%), ICICI Bank (-1.51%), Mahindra Mahindra (-1.65%) and Maruti (-2.71%) were the main losers on Sensex.
Eicher Motors (-5.52%), Infratel (-4.97%), Ultracemco (-2.78%), Maruti (-2.74%) and Grasim (-2.64%) were the main laggards on NSE Nifty.Crisis-hit ILFS (Infrastructure Leasing and Financial Services) will be taken over by the government as debt defaults by the infrastructure group have led to fears of contagion in the markets and a liquidity crisis.The new board, which includes banker Uday Kotak as non-executive chairman, will meet before October 8 and submit a roadmap before the next hearing of the tribunal on October 31.In global commodities market, oil prices dipped on Wednesday, weighed down by a report of rising US crude inventories and an expected increase in production.
Brent and WTI (West Texas Intermediate) earlier this week both reached levels last seen in November 2014, and the two contracts have risen by around 20 and 17 per cent respectively since mid-August.Meanwhile, domestic stock markets were closed on Tuesday on account of Gandhi Jayanti.
On Monday, the equity indices witnessed volatility with Sensex and Nifty staging a strong recovery in the final hour of trade.(With inputs from agencies)