The S&P BSE Sensex on Wednesday slipped over 100 points, while broader CNX Nifty was trading below its key 7,750-mark.
At 09:20 am, the 30-share index was trading at 25,135, down 93.92 points, while broad-based 50-share index was quoting 7,719, down 27.05 points.
Market breadth remained negative with 21 of the 30 Sensex components trading in red.
“If Nifty manages to stay below Wednesday’s low consistently then we may see this weakness extending towards 7,680 levels. However, in case of some recovery beyond the 7,780 mark on sustainable basis may provide some hope for the bulls,”
Adani Ports stock was the worst performer on both the benchmark indices and lost over 4 per cent after the company reported a 38 per cent jump in its consolidated net profit to Rs 914.06 core for the March quarter.