The Indian stock market traded deep in the red on Wednesday with the BSE Sensex falling nearly 800 points.
It fell 798 points to touch an intraday low of 49,253.36 points.
The fall in the domestic market came on the back of the sell-off in the US and Asian markets. Heavy selling pressure was witnessed in metal, auto, banking and finance.
At 11.57 a.m., Sensex was trading at 49,416.59, lower by 634.85 points or 1.27 per cent from its previous close of 50,051.44.
It opened at 49,786.47 and has touched an intraday high of 49,854.58 and a low of 49,253.36 points.
The Nifty50 on the National Stock Exchange was trading at 14,632.80, lower by 181.95 points or 1.23 per cent from its previous close.
The major losers on the Sensex were ONGC, State Bank of India and Mahindra & Mahindra, while the only gainers were Asian Paints, Power Grid and Sun Pharmaceutical Industries.