Indian equities pared most of its earlier losses but still trading lower on Thursday tracking weak global cues. Metal and financial stocks traded lower while IT and pharma stocks were in green.

However, broader markets are trading in positive with Midcap and Smallcap indices up 0.77% and 1.02% respectively.

At 12.41 p.m., the Sensex was trading down 254.22 points or 0.49% at 51,190.43 with 19 components falling.  Meanwhile, the Nifty was trading lower by 78.45 points or 0.51% at 15,167.15 with 26 components falling.  

The 30-share benchmark index, BSE Sensex opened with a decline of 632.51 points or 1.23% at 50,812.14, while the broad based NSE Nifty started with a fall of 218.85 points or 1.44%, at 15,026.75.

Housing Development Finance Corporation  contributed fall of 89.93 points in the Sensex.  It was followed by HDFC Bank  (62.63 points), Reliance Industries  (62.18 points), Larsen & Toubro  (39.23 points) and ICICI Bank  (29.09 points).

However, Tata Consultancy Services  contributed rise of 16.47 points in the Sensex.  It was followed by Infosys  (14.2 points), ITC  (11.79 points), Sun Pharmaceutical Industries  (8.73 points) and Oil & Natural Gas Corporation  (6.93 points).

Major gainers in the 30-share index were Tech Mahindra  (1.66%), Indusind Bank (0.85%), Sun Pharmaceutical Industries  (0.73%), Asian Paints  (0.71%), Tata Consultancy Services  (0.61%),  and Power Grid Corporation Of India  (0.48%).

On the other hand, Housing Development Finance Corporation  (2.26%), Tata Steel (1.78%), HDFC Bank  (1.55%), Larsen & Toubro  (1.53%),  and Reliance Industries (1.42%) were the major losers in the Sensex pack.

Market breadth was negative with 1,599 advances against 1,193 declines.