A benchmark index for Indian equities took a hard knock in afternoon trade, sliding 208 points as bearish sentiment prevailed after European markets fell on continuing euro zone woes.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,760.6 points, was ruling at 16,572.68 points, 208.39 points or 1.24 per cent down from its previous close at 16,781.07 points.
It had earlier risen to 16,895.73 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was ruling at 4,972.1 points, down 1.23 percent from its previous close.
Broader markets indices were also in the negative, with the BSE midcap index ruling 0.76 percent lower and the BSE smallcap index 0.67 per cent down.
European bourses extended their losses as investors resorted to selling due to uncertain economic conditions prevailing in the region over the debt woes.
UK's FTSE 100 fell 1.17 per cent at 5,009.71 points, while the German DAX was ruling 1.7 per cent lower at 5,804.43 points.
The French CAC 40 was down 1.07 per cent at 3,377.13 points.