Benchmark indices were trading under pressure dragged by HDFC, Reliance Industries, ICICI Bank, ITC, Kotak Mahindra Bank and Infosys.
Markets were also under pressure after the Punjab National Bank (PNB) uncovered additional exposure of about Rs 942 crore and Reserve Bank of India (RBI) banned letters of undertaking (LoUs) for seeking overseas loans.
Globally, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent, retreating from a 1-1/2 month high hit on Tuesday.
Equities in Europe too were lower as investors monitored fresh cooperate earnings as well as political developments in the US.
The pan-European Stoxx 600 was 0.12 per cent lower with most sectors moving in negative territory.
Back home, at 14:06 hours, BSE SENSEX was at 33715.93 down by -140.85 points or by -0.42 % and NSE Nifty was at 10369.2 down by -57.65 points or by -0.55 %.
The BSE Sensex touched intraday high of 33800.04 and intraday low of 33580.69. The NSE Nifty touched intraday high of 10407.05 and intraday low of 10336.3.
The top losers of the BSE Sensex pack were Hero MotoCorp Ltd. (Rs. 3645.00,-1.52%), Oil And Natural Gas Corporation Ltd. (Rs. 180.65,-1.50%), Adani Ports & Special Economic Zone Ltd. (Rs. 379.60,-1.34%), Housing Development Finance Corporation Ltd. (Rs. 1843.10,-1.08%), Tata Steel Ltd. (Rs. 621.75,-1.04%), among others.
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 319.00,+1.88%), Maruti Suzuki India Ltd. (Rs. 8807.00,+0.61%), HDFC Bank Ltd. (Rs. 1860.50,+0.03%), Hindustan Unilever Ltd. (Rs. 1318.00,+0.02%), among others.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2824, shares advanced were 1148 while 1511 shares declined and 165 were unchanged.