The market continued to trade lower in afternoon with the Sensex falling around 150 points as investors digested interest rate hike by the US Federal Reserve and await European Central Bank policy rate decision due later in the day.
Infosys fell nearly 3 percent as the stock adjusted for dividend of Rs 30.50 per share.
Mindtree dropped 3 percent after Citi downgraded the stock to Sell from Neutral but raised target price to Rs 970 from 875
The 30-share BSE Sensex slipped 160.84 points to 35,578.32 and the 50-share NSE Nifty declined 57.50 points to 10,799.20. About three shares declined for every two shares rising on the BSE.
The market remained under pressure tracking global weakness after the US Federal Reserve hiked interest rate by 25 basis points for the second time in 2018 and also indicated more hikes going ahead.
The Sensex dropped 207.97 points to 35,531.19 and the Nifty fell 68.70 points to 10,788, weighed by Infosys, Reliance Industries, ICICI Bank and IOC.
About three shares declined for every two shares rising on the BSE.
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