Mumbai, Oct 11 (IANS): Breaking a three-day gaining streak, key Indian equity indices on Wednesday traded in the red during the afternoon session on the back of heavy selling pressure in banking, metal and capital goods stocks.

The wider Nifty50 of the National Stock Exchange (NSE) dropped below the psychologically important 10,000-mark. On Tuesday, the Nifty50 had held on to that mark on a closing basis.

At 2.35 p.m., the Nifty50 fell by 38.55 points, or 0.38 per cent, to trade at 9,978.40 points.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened higher at 31,975.59 points, fell almost over 100 points.

The Sensex traded at 31,816.14 points (at 2.35 p.m.) -- down 108.27 points, or 0.34 per cent, from its previous close. It has so far touched a high of 32,098.46 points and a low of 31,769.40 points during intra-day trade.

The BSE market breadth was bearish -- 1,824 declines and 867 advances.

On Tuesday, the benchmark indices closed in the green on the back of broadly positive global cues and healthy buying in capital goods, banking and healthcare stocks.

The Nifty50 closed at 10,016.95 points -- up 28.20 points or 0.28 per cent, while the Sensex closed higher by 77.52 points, or 0.24 per cent, at 31,924.41 points.