Indian equities extended their early morning losses to trade around 1 per cent lower taking cues from their weak Asian peers, following with sustained selling across metal, automobiles and consumption Stocks. Oil and Gas index is trading over 1% lower weighed by IOC and ONGC. Oil prices dipped on Thursday 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.
The Indian rupee is back at 71/$ after multiple sessions of trading below this level.
At 10:46 hours, the 30-share benchmark index was trading at 35535.83, down by 348.58 points or by 0.97 per cent, and the NSE Nifty was at 10662, down by 120.9 points or by 1.12 per cent.
The top losers of the BSE Sensex pack were Maruti Suzuki India Ltd. (Rs. 7314.00,-3.25%), Oil And Natural Gas Corporation Ltd. (Rs. 140.35,-2.33%), Vedanta Ltd. (Rs. 195.00,-1.74%), ICICI Bank Ltd. (Rs. 345.00,-1.74%), Bharti Airtel Ltd. (Rs. 306.95,-1.71%), among others.
On the flip side, Sun Pharmaceutical Industries Ltd. (Rs. 422.30,+2.10%), Power Grid Corporation of India Ltd. (Rs. 184.15,+0.41%), Tata Steel Ltd. (Rs. 516.80,+0.29%), Adani Ports & Special Economic Zone Ltd. (Rs. 374.20,+0.01%), were among top gainers on the BSE.
On the sectoral front, Realty and Auto stocks were among top losers on BSE, falling as much as 2.58 per cent and 1.45 per cent, respectively.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2076 , shares advanced were 513 while 1464 shares declined and 99 were unchanged.