Mumbai, Jan 27 (Inditop.com) A benchmark index for Indian equities Wednesday fell further into the red a little after noon Wednesday and was 335 points below its previous close.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,708.6 points, was at 16,432.74 points, down 347.42 points or 2.07 percent from its previous close at 16,780.46 points.

Banking majors ICICI and SBI were the main contributors to the Sensex’s drag.

At 12.23 p.m., at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,893.35 points, against the previous close at 5,007.9 points, a loss of 2.29 percent.

Broader markets were also hit by selling pressure, with the BSE midcap index down 2.23 percent and the BSE small cap index trading 2.7 percent lower.