The Sensex is down 118 points or 0.64% at 18,378, while the Nifty is down with a loss of 38.30 points or 0.68% at 5561.75.
Information technology stocks are trading higher with a weak rupee aiding their surge. FMCG, healthcare and automobile stocks are trading mixed. Bank and Realty stocks are mostly trading weak.
GAIL India, BHEL and Sterlite Industries are down 3% - 4%. Coal India is down nearly 3% and Tata Steel is down with a loss of 2.8%, while Larsen & Toubro and Reliance Industries are trading lower by 2.4% and 2.3%, respectively.
ICICI Bank, Hero Motocorp, NTPC, Hindalco, Cipla, State Bank of India, Mahindra & Mahindra, Tata Motors and Dr Reddy's Laboratories are also trading notably lower.
Sesa Goa, Reliance Infrastructure, Cairn India, SAIL, Axis Bank, Grasim Industries, ACC and Ambuja Cements are down with sharp to moderate losses.
BPCL, Tata Consultancy Services, Infosys, Bharti Airtel, DLF, ONGC and Maruti Suzuki are up 1% - 2.2%. Bajaj Auto, Asian Paints, ITC, Wipro, Tata Power, Ranbaxy Laboratories and Kotak Bank are also trading firm.
Pantaloon Retail, which moved up sharply earlier this week, is down more than 2% on heavy volumes. The Pantaloon Retail counter has clocked a volume of over 9 million shares on the National Stock Exchange today. Trent, Koutons Retail and Provogue Stop are also trading notably lower, while Shoppers' Stop, which drifted lower, has edged up a bit amid high volatility.