Among the sectors, besides metal, all other indices are trading flat led by IT, pharma, bank, auto, and infra.
The stock of Welspun Enterprises grew 3 percent in intraday on Wednesday after getting a bonus from NHAI for early fulfillment of a project.
Benchmark indices spread losses in afternoon trade with the Sensex dropping 299.41 points to 39,651.05 and the Nifty50 trading 89.80 points below at 11,875.80.
The market size was in favor of bears. About 1,325 stocks declined toward 909 advancing shares on the BSE.
All sectoral indices performed in the red barring Metals.
Indiabulls Housing (declining 7.75 %), Yes Bank (3.12 %), Bharti Infratel (2.1 %), Tech Mahindra (1.99 %) and Kotak Mahindra Bank (1.93 %) were top losers with Nifty50 stocks.
Gainers were GAIL (1.21 percent), and ONGC (0.97 percent).