The market breadth was negative as about two shares declined for every share rising on the BSE.

10:00 am Duty free imports: Duty-free import of raw sugar till June is unlikely to bring down retail prices in the near-term, says a report.

Recently government allowed duty-free import of raw sugar to the tune of 0.5 million tonne till June 12.

All the sectoral indices on NSE are trading in negative territory in the morning hours on Wednesday. Nifty Realty index is the biggest loser trading lower by 1.22% at 223 levels.

The Eicher Motors is the top Nifty gainer trading higher by 1.4% at Rs 26240 per share. The stock is outperforming the major indices in the markets.

There are 305 advances, 1244 declineEis and 392 unchanged stocks on NSE reflecting strong negative undertone floating in the market.

9:50 am Market Update: Equity benchmarks extended losses, tracking weakness in global peers. Investors also turned cautious ahead of Infosys earnings due on April 13.

The 30-share BSE Sensex was down 125.73 points at 29,662.62 and the 50-share NSE Nifty fell 39.40 points to 9,197.60, dragged by ITC, ICICI Bank, Reliance Industries and HDFC.

The market breadth was negative as about two shares declined for every share rising on the BSE.

Equity benchmarks extended losses, tracking weakness in global peers. Investors also turned cautious ahead of Infosys earnings due on April 13.

The 30-share BSE Sensex was down 125.73 points at 29,662.62 and the 50-share NSE Nifty fell 39.40 points to 9,197.60, dragged by ITC, ICICI Bank, Reliance Industries and HDFC.

Source: moneycontrol.com