Stock Market: Sensex falls 623 points, Nifty declines to 16,887

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The Sensex and the Nifty today fell more than one percent in the afternoon trade. Domestic stock indices slipped amid negative cues from global share markets. The Sensex at Bombay Stock Exchange was trading below 56,400 points while the Nifty at National Stock Exchange was trading below 16,900 levels.

The Sensex lost 623 points, or 1.09 percent to trade at 56,353 while the Nifty declined 183 points, or 1.07 percent, to trade at 16,887.

In the forex market, the rupee appreciated 29 paise to trade at 76 and 37 paise against the US dollar in the afternoon deals.