The BSE midcap and smallcap indices were the worst hit, while the financials, realty and auto sectors also showed significant weakness.

HDFC Bank, Reliance Industries -- along with weak trends in the US and Asian peers also hit markets' sentiment

Indian stock markets witnessed a sharp decline on Wednesday as rising inflation and continued foreign fund outflows weighed on investor sentiment. Sensex and Nifty tumbled over 1%, extending losses from the previous day.

The equity markets continued to show weakness on Wednesday as the benchmark indices closing in red, with Sensex declining 984 point to settle at 77,690 while Nifty at 23,559. However, Swiggy at its debut settled at 456,

The BSE Sensex was trading at 78,295.70, down 379.48 points, or 0.48 per cent. Smallcap and midcap indices fell 1.77 per cent and 1.41 per cent, respectively.

At the opening bell, the BSE Sensex was down 167 points, or 0.21 per cent, at 78,507.87, while the Nifty 50 was at 23,820, down 62 points, or 0.26 per cent. Among the 30 constituent stocks in the BSE Sensex,

Indian benchmark equity indices opened lower on Wednesday after a rise in October retail inflation reduced expectations of a rate cut by the Reserve Bank of India (RBI) next month. This, coupled with weak earnings and ongoing foreign outflows,