Indian benchmarks continued its choppy trade during the late morning deals amid weak global cues. Asian shares edged lower as investors fretted about crude oil prices sinking in tepid trading ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 percent since October. On the other side, rupee was trading at 71.05 against dollar while it opened 33 paise lower at 70.79.
On the corporate front, General Insurance Corporation of India shares fell over a percent in morning on Thursday after global investment firm HSBC slashed price target to Rs 400 from Rs 421 earlier.
At 11:25 hours, the 30-share benchmark index was trading at 35515.49 down by 368.92 points or by 1.03 per cent, while the NSE Nifty was at 10649.75 down by 133.15 points or by 1.23 per cent.
In the volatile trade so-far, Sensex touched intraday high of 35707.23 and intraday low of 35468.12 The NSE Nifty touched intraday high of 10722.65 and intraday low of 10641.6.
The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 420.00,+1.55%), Power Grid Corporation of India Ltd. (Rs. 184.20,+0.44%), Tata Steel Ltd. (Rs. 517.45,+0.42%), NTPC Ltd. (Rs. 141.10,+0.14%), among others.
The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 7239.00,-4.24%), Oil And Natural Gas Corporation Ltd. (Rs. 140.35,-2.33%), Asian Paints Ltd. (Rs. 1302.05,-1.98%), Kotak Mahindra Bank Ltd. (Rs. 1188.00,-1.92%), IndusInd Bank Ltd. (Rs. 1574.30,-1.82%), among others.
Among the sectors, Power index was at 1907.2 up by -6.28 points or by -0.33%. Siemens Ltd. (Rs. 917.75,+1.15%), Torrent Power Ltd. (Rs. 263.50,+1.11%), Thermax Ltd. (Rs. 1127.70,+1.00%), Power Grid Corporation of India Ltd. (Rs. 184.20,+0.44%), NTPC Ltd. (Rs. 141.15,+0.18%),.
On the flip side, Realty index was at 1768.6 down by -48.41 points or by -2.66%. DLF Ltd. (Rs. 169.00,-4.28%), Godrej Industries Ltd. (Rs. 670.15,-3.39%), Mahindra Lifespace Developers Ltd. (Rs. 375.30,-3.35%), Indiabulls Real Estate Ltd. (Rs. 77.40,-3.19%), Oberoi Realty Ltd. (Rs. 454.60,-2.95%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2256 , shares advanced were 539 while 1607 shares declined and 110 were unchanged.