The key domestic benchmark indices were trading in a negative terrain in the late morning trading session as weakness in IT and Teck stocks offset gains in bank and consumer durables stocks.
Shares of Punjab National Bank remained under selling pressure and tumbled over 3 per cent in opening trade as investors remained jittery following recent fraud case.
Shares of Gitanjali Gems eroded another 10 per cent after media report suggested that the Central Bureau of Investigation (CBI) has filed a first information report (FIR) against the company. Also, Natco Pharma shares rallied as much as 6.4 percent after the Mekaguda facility received zero observations from the US health regulator.
At 11:15 a.m, the Bombay Stock Exchange bellwether Sensex was trading at 33818.18 down by 192.58 points or by 0.57 per cent, while the NSE Nifty was at 10391.1 down by 61.2 points or by 0.59 per cent.
The BSE Sensex touched an intraday high of 34122.96 and an intraday low of 33789.92 while the NSE Nifty touched an intraday high of 10489.35 and an intraday low of 10379.05.
The top gainers of the BSE Sensex pack were NTPC Ltd. (Rs. 162.95,+0.28 per cent), Infosys Ltd. (Rs. 1127.70,+0.25 per cent), Kotak Mahindra Bank Ltd. (Rs. 1053.65,+0.18 per cent), Wipro Ltd. (Rs. 291.20,+0.17 per cent), ITC Ltd. (Rs. 266.80,+0.17 per cent), among others.
Meanwhile, Tata Steel Ltd. (Rs. 655.00,-4.84 per cent), Larsen & Toubro Ltd. (Rs. 1289.65,-2.88 per cent), State Bank of India (Rs. 265.50,-2.30 per cent), Bharti Airtel Ltd. (Rs. 411.00,-2.01 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 397.45,-1.72 per cent), were among the top losers on BSE.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2595 , shares advanced were 699 while 1776 shares declined and 120 were unchanged.
On the global front, Asian stocks were trading higher after the US's S&P 500 extended its winning streak on Friday to six days, while the Wall Street closed higher in the previous trading session extending its winning streak.