The S&P BSE benchmark Sensex fell by 65 points in the late morning trade on persistent selling mainly in power, FMCG, healthcare and capital goods sectors on the back of weak Asian cues coupled with capital outflows from foreign funds.
The market may remain volatile on Thursday as traders roll over positions in the futures & options (F&) segment from the July 2013 series to August 2013 series. The near July 2013 derivatives contracts will expire on Thursday.
The 30-share index resumed lower at 20,062.00 and hovered in a range of 20,110.11 and 19,910.08 before quoting at 20,025.48 at 1025hrs, showing a loss of 65.20 points or 0.32 per cent from its last close.
The NSE 50-share Nifty also moved down by 21.15 points of 0.35 per cent to 5,969.35 at 1025 hrs.
Major losers were Tata Power (2.92 per cent), BHEL (2.27 per cent), HUL (2.09 per cent), Sun Pharma (1.38 per cent), Hindalco (1.21 per cent), ITC (1.20 per cent) and Coal India (1.07 per cent).
Foreign institutional investors (FIIs) sold shares worth a net Rs. 404.50 crore on Wednesday as per provisional data from the stock exchanges.
Asian stocks fell in their early trade as investors weighed U.S. economic data to gauge the fate of Federal Reserve stimulus. Key benchmark indices in Indonesia, China, South Korea, Hong Kong, Singapore, Japan, and Taiwan were down by 0.02 per cent to 0.87 per cent.