Consequently, the key indices of the Indian equity markets traded deep in the red during the early morning trade session.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged lower by 44.90 points or 0.57 percent, at A7,842.90 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 25,548.97 points, traded at 25,622.26 points (at 9.30 a.m.) — down 150.27 points or 0.58 percent from the previous close at 25,772.53 points.
The Sensex has so far touched a high of 25,643.08 points and a low of 25,409.24 points during the intra-day trade.
In contrast, the BSE market breadth was skewed in favour of the bears — with 874 declines and 433 advances.
Both the key Indian indices had ended on a higher note during the previous trade session on Tuesday.
The barometer index had gained 83.67 points or 0.33 percent, while the NSE Nifty had risen by 21.75 points or 0.28 percent.