Mumbai: The benchmark Sensex extended losses by 300 points or 0.90 percent due to selling in energy, banking, financial and FMCG stocks as investors remained cautious due to November series F&O expiry and September quarter GDP data due today.
Sentiment took a hit after North Korea test fired an intercontinental ballistic missile, ratcheting up tensions with the US.
At 1.45 p.m., the 30-share BSE index Sensex was down 281.10 points or 0.84 per cent at 33,321.66 and the 50-share NSE index Nifty was down 83.5 points or 0.81 per cent at 10,277.80. The NSE barometer Nifty50 index was trading 58.10 points, or 0.56 per cent, lower at 10,303.20 at around the same time.
Markets saw a big correction today as caution gripped D-Street ahead of GDP data release. Global cues were also mixed with U.S. tax overhaul optimism drowned by pessimism over renewed threats from North Korea.
Asian markets fell as investors ponder the longevity of the global equity bull run. European shares were higher in their early deals.
The gainers' pack was led by Wipro, Adani Ports, Sun Pharma, Hindustan Unilever, Tata Steel, Bharti Airtel, Bajaj Auto, Coal India, HDFC Bank, Maruti Suzuki, ITC, L&T and ICICI Bank. Opec and Russian Federation are ready to extend their oil production cuts until the end of next year to ensure global stockpiles keep falling and prices maintain recent gains, Bloomberg reported.
The broader markets were mixed, with the mid-cap index falling 0.55 per cent while small-cap rose 0.10 per cent.