Indian stock market belled the day (Feb 11) negatively after the much-awaited U.S. financial rescue plan thwarted investors across worldwide markets.

The 30-share index, BSE Sensex opened with a loss of 185.33 points, at 9,462.14 on Wednesday.

Overnight losses in US and a weak beginning to equity markets across Europe dragged the Indian bourses lower.

At 10:04 am (IST), the BSE 30-share Sensex slipped 129.99 points at 9,517.48, after touching a high of 9,523.71 and a low of 9,459.59.

Meanwhile the broad based Nifty declined 33.00 points at 2,901.50 after touching a high of 2,933.60 and a low of 2,877.60.

On Tuesday, the Sensex ended the day after gaining 63.58 points at 9647.47. In contrast, the Nifty closed 14.60 points up at 2934.50. In intra-day trades on Tuesday, the Sensex touched a high of 9724.87 and a low of 9510.50. The Nifty, which posted a high of 2957.40, hit a low of 2891.75.

Asian stocks turned down, led by banking institutions and commodity companies, on fear US President Barack Obama’s plan to stimulate the economy may not be sufficient to relieve the recession.

The overall market breadth was negative. Out of the total 907 shares traded at BSE, 275 advanced, 613 declined while 19 remained unchanged.

Ranbaxy Laboratories, which gained 2.49%, was the only gainer at the 30-share index.

Among the major laggards were, Tata Steel, Jaiprakash Associates, Reliance Capital, Sterlite Industries (India), Reliance Communications and HDFC Bank (2.68%).

The US Senate passed president Barack Obama’s $838 billion stimulus bill on Tuesday.

The economic recovery plan is likely to create 4 million jobs and was important for reviving the crisis-hit economy.

Amid strong Republican opposition, the bill was passed by a roll call vote of 61-37. The House of Representative has already passed it.