A benchmark index for Indian equities was faltering Wednesday amid pessimistic signals from major Asian stock markets.

Real estate, metal and energy shares were confronting bulk of the selling action.

The 30 share index Sensex, which belled the day at 17,643.59, stood at 17,529.91, down 160.71 points, 0.91% lower as against last closure at 17,690.62.

At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty stood at 5,259, down 0.93% from its previous closure at 5,308.35.

Broader market indices were also trading in the negative zone with the BSE midcap index ruling 0.87%down and the BSE smallcap index trading 0.7% lower.

The overall market breadth was depressing as it saw 1,854 declinations as compared to 904 advancements.

The majority of Asian markets were trading in the red, after concerns sprang up that more European nations could default on their independent arrears.

Credit rating agency Standard and Poor's had tagged Greece's troubled financial system as Junk, and cast uncertainties on Portugal's capability to service its arrears.

Japan's Nikkei closed 2.57%down at 10,924.79, whereas the South Korean Kospi was trading 0.89%down at 1,733.91.

Hong Kong's Hang Seng stood at 20,991.61, down 1.27%, whilst the Chinese Shanghai composite index was down 0.26% at 2,900.33. (With Inputs from Agencies)