Indian markets continues to trade lower on the back of sustained selling pressure seen in index pivotal stocks. IT, pharma and financial stocks pulled the market sentiment down.

BSE Midap and Smallcap index declined 0.76% and 0.50% respectively.

At 13.14., the Sensex was trading down 245.47 points or 0.50% at 49,338.69 with 20 components falling.  Meanwhile, the Nifty was trading lower by 73.90 points or 0.51% at 14,521.70 with 37 components falling.  

The 30-share benchmark index, BSE Sensex opened with a gain of 72.55 points or 0.15% at 49,656.71, while the broad based NSE Nifty started with a fall of 1.25 points or 0.01%, at 14,594.35.

ICICI Bank  contributed fall of 53.47 points in the Sensex.  It was followed by Housing Development Finance Corporation  (49.11 points), Oil & Natural Gas Corporation  (37.35 points), Infosys  (31.21 points) and Larsen & Toubro  (26.04 points).

However, ITC  contributed rise of 80.54 points in the Sensex.  It was followed by Bharti Airtel  (43.6 points), Tata Motors  (27.6 points), Sun Pharmaceutical Industries  (13.42 points) and Reliance Industries  (9.5 points).

Biggest gainers in the 30-share index were Bharti Airtel  (3.60%), ITC  (1.52%), Sun Pharmaceutical Industries  (1.16%), Bajaj Auto  (0.79%),  and Indusind Bank  (0.73%).

On the other hand, Tech Mahindra  (2.01%), Oil & Natural Gas Corporation  (1.71%), Kotak Mahindra Bank  (1.56%), HCL Technologies  (1.41%), ICICI Bank  (1.36%),  and Asian Paints  (1.35%) were the biggest losers in the Sensex.

Market breadth was negative with 1,107 advances against 1,760 declines.