The S&P BSE Sensex hovered around 48,130 levels, down 400 points and the Nifty50 index gave up the 14,400-mark. Infosys fell 5 per cent after the announcement of its March quarter results and was the top Sensex laggard, followed by Mahindra & Mahindra, and IndusInd Bank (both down 3%). On the other hand, ONGC (up 3%) was the top Sensex gainer, followed by NTPC, State Bank of India, and UltraTech Cement (all up 1%).
The Nifty sectoral indices were largely in the red, with Nifty Auto and Nifty PSU Bank index, down 2.5 per cent, each. On the other hand, Nifty Pharma ticked up 1 per cent.
In the broader market, the S&P BSE MidCap and SmallCap indices traded 0.3 per cent lower, each.
Wipro, Blue Blends (India), Hathway Bhawani Cabletel & Datacom and Tinplate Company of India are scheduled to announce their quarterly numbers on Thursday.