During mid-day on October 30, benchmark indices Nifty and Sensex traded lower as investors decided to take profits after a two-day rally.

The decline in the market was influenced by falling bank and pharma stocks, which dampened market sentiment ahead of the Diwali festival. Experts have warned of expensive valuations, resulting in declines of up to 6 percent over the past month for both indices. However, the broader market exhibited mixed performance, with the midcap index decreasing by 0.2 percent and the smallcap index rallying by nearly one percent.

Market breadth showed 2,632 shares advancing against 666 declining, with 93 remaining unchanged. The India VIX, a measure of market anxiety, increased by 3 percent and is currently hovering around the 15 levels.