The benchmark indices were trading around 0.75 per cent lower in the last hour of the session.
The S&P BSE Sensex dipped around 300 points to test 39,000 levels and the Nifty50 index fell below the 11,550-mark. Tata Steel and Bajaj Finserv (both down 2%) were the top Sensex laggards, followed by ICICI Bank, Bajaj Finance, and Powergrid (all down 1%) each.
The trend among Nifty sectoral indices was largely negative, with Nifty Metal index, down 1.8 per cent, leading the list of losers.
In the broader market, the S&P BSE MidCap and SmallCap indexes were trading flat.
