Indian markets ended in the red amid volatility marked by weak rupee and underperformance of midcaps. The Sensex ended lower by 23 points to 36,351.23, a decline of 0.06 percent, while the Nifty ended above the 10,950 mark at 10,957.10, lower by 23.35 points, or 0.21 percent.
Kotak Mahindra tops the list of losers with the stock falling nearly 4 percent after its June quarter results. L&T, HDFC, Tata Steel, TCS, ICICI Bank, Coal India, Cipla were among other losers.
Bharti Airtel, Vedanta, ITC, Axis and Yes Banks batted for the bulls. Midcaps remained weak with the Nifty MidCap closing lower by 0.72 percent, while the BSE MidCap ended 0.63 percent down.
Sectoral indices on the BSE mostly underperformed with maximum losses seen in Healthcare, Industrials, Capital Goods, Metal. Only Consumer Durables traded nearly a percent high.
Nifty sectoral indices were mostly in the red except FMCG and PSU Bank. Highest losses were seen in Pharma with 1.53 percent.
(Market update as of 3.40pm)
Here's how the markets performed around noon
Indian market was trading range-bound on Thursday, cutting losses of early trade. The Sensex was trading at 36433, rising by 61 points, while the Nifty still hovers below the 11,000 mark.
The 30-share BSE index ranged between a high of 36515.58 and a low of 36310.17. The Nifty touched a high of 11,006.50 and a low of 10,936.95.
Midcaps continued to remain volatile with Nifty MidCap trading lower by 0.71 percent. The BSE MidCap witnessed losses around 0.4 percent.
BSE sectoral indices improved marginally led by metal, consumer durables, while the NSE sectoral indices were mixed with IT, media, pharma still lower.
Coal India, HDFC, TCS, ICICI Bank, L&T, Bharti Infratel, Hindalco, Bajaj Finance, oil marketing companies and UPL were among the losers. Vedanta, Bharti Airtel, Tata Motors, Hindustan Unilever, Axis Bank were among the top index gainers.
ONGC gained after the cabinet on Wednesday tweaked pre-1999 oil and gas contracts to provide for proportionate sharing of statutory levies like royalty and cess between the operators of an area and not put the entire burden on the state-owned oil and gas company.
Asian stocks erased gains after opening in the green. Japan's Nikkei was marginally down by 0.13 percent, while Hong Kong's Hang Seng was flat.
First Published: IST