Here are 10 things to know about the markets (BSE Sensex, NSE Nifty) today:
At 12:32 pm, the S&P BSE Sensex traded 246.28 points - or 0.61 per cent - lower at 40,034.92, while the NSE Nifty was down 72.25 points - or 0.61 per cent - at 11,725.65.
Thirty six stocks in the Nifty 50 index traded lower. Top percentage losers at the time were Hindalco, GAIL, Tata Motors, Sun Pharma and Maruti Suzuki, trading between 1.90 per cent and 3.53 per cent lower. (Track S&P BSE Sensex And NSE Nifty Here)
On the other hand, Yes Bank, UltraTech Cement, Coal India, NTPC and HCL Tech - up between 0.92 per cent and 3.56 per cent each - were the biggest Nifty gainers.
Reliance Industries, ICICI Bank and HDFC Bank were the top drags on the Sensex, together accounting for a fall of nearly 120 points in the index.
Cipla shares fell nearly 6 per cent after the Mumbai-based drug maker's manufacturing facility in Goa received a warning letter from the US Food and Drug Administration (FDA).
Analysts awaited official macroeconomic data due by the end of the week for any signs of revival in economic growth. The government will release data on GDP or gross domestic product in the October-December period on Friday evening. (Here's What To Expect From Official GDP Data)
Equities in other Asian markets fell on Wednesday as the United States' warning to its citizens to prepare for the possibility of a coronavirus pandemic pulled the S&P 500 and the Dow Jones Industrial Average indices more than 3 per cent each overnight in their fourth straight session of losses.
MSCI's broadest index of Asia-Pacific shares outside Japan declined 1.28 per cent, whereas Japan was among the worst performing markets in the region, with its benchmark Nikkei index sliding 1.1 per cent.
While the stock rout has been global, the recent pace of selling in Asia has not been as severe as it has on Wall Street, which has been hit hard by the escalation of virus cases outside of Asia. The World Health Organization says the epidemic has peaked in China, but concern that its spread is accelerating in other countries is likely to keep investors on edge.
On Tuesday, the S&P BSE Sensex index had declined 82.03 points - or 0.20 per cent - to end at 40,281.20, and broader NSE Nifty benchmark settled at 11,797.90, down 31.50 points - or 0.27 per cent - from its previous close. As of Tuesday's close, the indices lost 1,041.8 points (2.52 per cent) and 328 points (2.70 per cent) respectively in three days.