Sensex, Nifty Snap Eight-Day Rally Amid Decline In Autos, Power Stock: Midday Market Update

Sensex fell below the 63,000 mark and traded 580 points lower at 62,705.02, while the Nifty 50 eased 170 points to 18,643.15.

<div class="paragraphs"><p>BSE building on Dalal Street (Source: Reuters)</p></div>
BSE building on Dalal Street (Source: Reuters)

India's benchmark stock indices fell further from their opening lows, ending an eight-day rally, as auto and power stocks went down.

The Sensex fell below the 63,000-mark and traded 580 points lower at 62,705.02, while the Nifty 50 declined by 170 points to 18,643.15.

Among the Nifty 50 stocks, nine advanced while 41 declined.

Apollo Hospitals, Oil and Natural Gas Corporation, Tech Mahindra, Tata Steel and Grasim were the top gainers. While, Eicher Motors, Mahindra and Mahindra, Hindustan Unilever, Tata Consumer and Cipla were the top Nifty 50 laggards.

The broader indices outperformed their larger peers, with the mid-cap index gaining 0.43% and small-cap gauge rising by 0.35% in trade. The large-cap index was largely in-line with its larger peers, losing 0.80%.

Fifteen out of the 19 sectoral measures complied by BSE Ltd. decline, with S&P BSE Power losing the most over 1.18%.

The market breadth is skewed in favour of the bull, 1,797 stocks rose, 1,536 fell and 165 remained unchanged on BSE.