Analysts said any fall in domestic equities could be limited. Shares have hit records highs this year on prospects of improving earnings and economic and fiscal reforms from the government. "Global news flow is weighing heavy on the markets. I don't think there is more than 4-5 per cent downside from the levels we've seen recently," said Gaurang Shah, head investment strategist, Geojit Financial Services.
The broader NSE Nifty was down 0.29 percent at 9,949.50 in noon trade while the benchmark BSE Sensex was 0.38 per cent lower at 31,893.61.
Drugmaker Sun Pharmaceutical Industries' shares slumped as much as 5 per cent to their lowest in over four years after unit Taro Pharmaceutical Industries Ltd's June-quarter profit halved to $54.5 million. The Nifty Pharma index fell as much as 2.2 per cent to its lowest in over two months.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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