The News International Team
Equity benchmarks fell about half a percent in afternoon trade but the broader markets outperformed with the BSE Midcap and Smallcap indices rising 0.44 percent and 0.2 percent, respectively.
The Sensex declined 110.98 points to 27208.87 and the Nifty slipped 37.30 points to 8136.60 weighed down by capital goods, oil & gas, technology and select banks stocks.
Top private sector lender ICICI Bank, two-wheeler maker Bajaj Auto and state-run oil and gas producer ONGC topped the selling list, falling 1.6 percent each followed by Infosys and Wipro with over a percent loss.
Shares of L&T, Reliance Industries, Sun Pharma, HDFC, Sesa Sterlite, Axis Bank and Hero Motocorp declined 0.3-0.8 percent. However, Tata Motors, ITC, Cipla, Bharti Airtel, Coal India, M&M, Dr Reddy’s Labs, Tata Steel and Tata Power outperformed, up 0.4-1.5 percent.
In the midcap space, Schneider Electric rallied 20 percent followed by Info Edge, Punj Lloyd, Sadbhav Engineering and Va Tech Wabag with 7-9 percent while Sobha Developer, HT Media, Trinity Trade, Torrent Power and Hathway Cable lost 3-4 percent.