The Indian equity markets continued to trade weakly in the midday session, owing to selling in frontline bluechip counters, which pulled the Sensex and Nifty below critical levels of 56,900 and 17,050, respectively. The day was also proving to be somewhat worse for wider indexes, which were trading with losses ranging from 0.60%-0.90%.

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Asian markets were trading lower with Nikkei 225 slipping 29.37 points or 0.11% to 26,818.53 and KOSPI was down by 7.74 points or 0.29% to 2,687.31.

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The Sensex is now trading at 56,822.56, down 238.31 points or 0.42% after ranging between 56,412.62 and 56,848.90. On the index, there were 10 stocks that advanced and 20 stocks that declined.

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The broader indices were trading in red with the BSE Midcap index losing 0.65%, while the Small cap index was down by 0.88%. The few gaining sectoral indices on the BSE were Energy up by 0.52%, Oil & Gas up by 0.39% and Realty was up by 0.37%, while IT down by 1.87%, Telecom down by 1.67%, TECK down by 1.65%, Consumer Durables down by 1.63% and Capital Goods was down by 1.25% were the top losing indices on BSE.

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The top gainers on the Sensex were Indusind Bank up by 3.54%, NTPC up by 1.92%, Power Grid up by 1.43%, HDFC up by 1.17% and Ultratech Cement was up by 0.83%. On the flip side, Wipro was down by 2.79%, Tech Mahindra down by 2.42%, Infosys down by 2.16%, SBI down by 2.09% and Sun Pharma was down by 1.97% were the top losers.

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The Nifty is now trading at 17,011.35, down 91.20 points or 0.53% after ranging between 16,917.25 and 17,027.05. On the index, there were 17 stocks that advanced and 33 stocks that declined.

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The top gainers on Nifty were Indusind Bank up by 3.68%, Coal India up by 2.35%, Power Grid up by 1.54%, HDFC up by 1.03% and UPL was up by 0.94%. On the flip side, Apollo Hospital was down by 3.32%, SBI Life Insurance down by 3.21%, Eicher Motors down by 3.11%, Bajaj Auto down by 3.06% and Wipro was down by 2.70% were the top losers.