Bear howling is getting louder with every passing day on Dalal Street as Nifty is now 10% down from its 52-week high of 26,277 while Sensex has lost over 8,000 points from its peak.While the headline indices will be treated in bear grip if they fall below 20% from the peak,

The key indices Nifty and Sensex have breached psychologically important levels on concerns about rising inflation, less chances of RBI rate action and profitbooking ahead of Maharashtra Polls.

The Indian Rupee kept its slide against the US Dollar intact on Wednesday morning trading above 84.40 levels, as Sensex and Nifty traded in the red. The Rupee hit a new record low of 84.42 on Tuesday.

Sun Pharma, Trent, HCL Tech, Infosys, and ONGC were among the top gainers on the Nifty index. Britannia Industries, HDFC Bank, NTPC, and Tata Motors were among the top losers.