Losses in Indian stocks intensified near noon in line with other Asian markets, after China's main stock index tumbled to a new 52-week low amid worries about a possible moderation in growth.
At 11:42 am (IST), the BSE Sensex was trading at 17,599, down 174 points or nearly 1%. It had earlier been as low as 17,588 after opening at the day's high of 17,777.
The NSE Nifty on the other hand was tradig at 5,276, down 57 points or 1% over the previous close. It earlier touched a low of 5,272 and a high of 5,334.
The BSE Small-Cap index and the BSE Mid-Cap index were both trading nearly unchanged.
All sectoral indices on the BSE have turned in the negative territory. The top losers include Metals, Oil & Gas, Banking, Power and IT. Select Pharma, Real Estate and Auto shares are down marginally.Â
Hong Kong stocks dropped amid concerns that economic expansion in China may slow amid government efforts to check relentless rise in asset prices, especially that of property.Â
The Hang Seng Index dropped 1.1% to 20,504.31 as of the 12:30 p.m. trading break, heading for its third fall in four days.
Japan's Nikkei Average ended down 1.3% at 9,570.70 while the Topix closed down 1% at 852.2.
Also read:Â China's Shanghai Composite falls 3.5%
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The US Federal committee's meeting will conclude on March 16, 2022.
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