Indian markets continued to decline for the second day on Wednesday. At 1.22 p.m, the Sensex was trading down 31.59 points or 0.11% at 27,944.93 with 19 components falling. Meanwhile, the Nifty was trading lower by 5.10 points or 0.06% at 8,585.55 with 29 components falling.

Biggest gainers in the 30-share index were ICICI Bank (3.00%), Maruti Suzuki India (1.78%), Bharat Heavy Electricals (1.49%), Adani Ports and Special Economic Zone (1.38%), Tata Motors (1.36%), and State Bank Of India (0.73%).

On the other hand, Dr Reddy's Laboratories (9.59%), Tata Steel (2.67%), Coal India (1.16%), ITC (1.13%), Axis Bank (1.13%), and Tata Power Company (0.70%) were the biggest losers in the Sensex.

Market breadth was negative with 1,091 advances against 1,337 declines.

Claris Lifesciences topped the value chart on the BSE with a turnover of Rs. 1,563.57 million. It was followed by Dr Reddy'S Laboratories (Rs. 859.68 million), Yes Bank (Rs. 555.61 million) and Spicejet (Rs. 453.03 million).

The volume chart was led by Syncom Formulations (India) with trades of over 9.99 million shares. It was followed by Shrenuj & Company (8.70 million), Spicejet (6.98 million) and Unitech (6.81 million).