Banks, metals pull market lower

The benchmark indices slipped back again in the afternoon trades amid losses in global markets. The Sensex was trading at 16,212, down 140 points. Another benchmark index Nifty shed 40 points to 4,806.
Selling pressure was seen in banking, metal and realty stocks. Among the Sensex stocks, Maruti Suzuki and ICICI Bank dropped over 3.5 per cent each. HDFC Bank fell 3.2 per cent and RCom dropped 2.8 per cent.Asian stocks were lower for a second day on Wednesday amid worries US consumers were continuing to struggle, undermining hopes for a quicker turnaround in an economy that's a major export market for the region.
Major markets fell by about 1.5 per cent or more across Asia, while oil prices and the dollar weakened modestly.
The losses followed another lackluster session on Wall Street, where an unexpected drop in a key measure of confidence among American consumers gave investors
few reasons to wade deeper into a market that's run massively higher since March.