Indian equities are trading on negative note led by losses in consumer durables, capital goods and power stocks.

At 2.24 p.m., the Sensex was trading down 121.23 points or 0.46% at 25,966.19 with 24 components falling. Meanwhile, the Nifty was trading lower by 25.65 points or 0.33% at 7,765.75 with 41 components falling.

Major losers were Hindalco (1.56%), Axis Bank (1.37%), NTPC (1.34%) and Dr Reddy's Laboratories (1.30%).

Top gainers were Cipla (2.40%), Tata Steel (1.52%), RIL (0.71%), and Coal India (0.64%).

The BSE Mid and small caps outperformed their larger counterparts gaining 0.50% and 0.40% respectively.

The Consumer Durables index was at 8,583.10, down by 58.48 points or by 0.68%. The Power index was at 2,150.39, down by 12.35 points or by 0.57%. The Capital Goods index was at 14,698.69, down by 76.88 points or by 0.52%.