Benchmark indices' rebound from Tuesday's sell-off lasted only two hours as they erased gains tracking a fall in US futures and ahead of the outcome of Reserve Bank of India's two-day policy meeting later today.
Shares of HDFC Bank, NTPC, HCL Technologies and Housing Development Finance Corp were leading the fall in the benchmarks.
At 12:14 PM, the BSE Sensex was trading at 34,109, down 87 points, while the Nifty50 index was trading at 10,482, down 17 points.
The BSE MidCap Index gained 0.51%, while the BSE SmallCap Index soared 1.57%.
City Union Bank stock fell 2% after the lender's asset quality worsens during October-December period. The bank posted its net profit increased by 22% yoy at Rs155cr.
McNally Bharat shares rose 4% after the company said it got order worth Rs68.30cr.
Shares of Vedanta slipped over 1.5% after the Supreme Court quashed Goa iron ore mining permits.
Tata Motors Ltd shares gained 2% after the company said its total Jaguar Land Rover sales rose 3% to 49,066 units in January.
Volatility index India VIX slipped 0.89% at 19.8350.
HPCL (+4.6%), Coal India (+2.3%), Aurobindo (+2.2%), Hindalco (+1.9%) and ONGC (+1.8%) were the top gainers on Nifty50.
HCL Tech (-2.80%), NTPC (-2.3%), Wipro (-1.9%), Vedanta (-1.9%) and Bharti Airtel (-1.6%) were the top losers in today’s trade.
Out of 2,016 stocks traded on the NSE, 1,310 advanced, 354 declined and 352 remained unchanged today.
A total of six stocks registered a fresh 52-week high in trade today, while 15 stocks touched a new 52-week low on the NSE.