After clinching new highs in early morning trade with Nifty hitting 14244 levels, Indian indices extended losses to the tune of over 0.5%. Nifty Bank and Nifty Midcap 100 were up at the later part of the trade.
The indices saw weakness primarily due to losses in heavyweight stocks such as RIL and HDFC twins.
SAIL stock traded down by almost 3 percent after there was an accident in the company's Rourkela plant and even 4 workers met unfortunate death in the incident.
JBM Auto after setting up a new subsidiary saw its stock price new 52-week high of Rs. 323.
Vedanta and Hindustan Zinc also hit their 52-week highs on high volumes in the scrip.
Also, after the Tamil Nadu government allows 100 percent capacity in multiplexes, stocks of Inox Leisure and PVR surged.
Meanwhile, Japan will declare a month long Covid 19 emergency from tomorrow in Tokyo from Saturday until Feb. 7, broadcaster Asahi TV reported. Also, European indices were trading on a positive note with FTSE up around 1 percent.