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The key equity barometers were trading with steep losses in mid-afternoon trade. Metal shares witnessed some bit of profit taking after a three-day winning streak. At 14:23 IST, the barometer index, the S&P BSE Sensex, dropped 934.04 points or 1.91% to 47,897.99. The Nifty 50 index tumbled 284.55 points or 1.95% to 14,333.30.
A spike in domestic coronavirus cases and localized lockdown being announced by various state governments dented investors sentiment.
In the broader market, the S&P BSE Mid-Cap index lost 1.77%. The S&P BSE Small-Cap index declined 1.49%.
Sellers outnumbered buyers. On the BSE, 690 shares rose and 2206 shares fell. A total of 199 shares were unchanged.
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