The Indian stock market's benchmark Sensex was trading 265 points down in the afternoon session on Thursday dragged by heavy selling pressure in IT and infra stocks.
The 30 stock S&P BSE Sensex was trading 275.27 points or 0.46 per cent down at 60,071.70 points at 1.07 pm against its previous day's close at 60,346.97 points.
The market witnessed volatile trading. The Sensex started the day in the positive at 60,454.37 points and rose to a high of 60,676.12 points in the morning trade.
The markets witnessed heavy selling pressure in the late morning session dragging the benchmark Sensex below the 60,000 points mark. The index slipped to a low of 59,889.25 points in the intra-day.
The benchmark Sensex is trading in the red for the second consecutive day. The Sensex had lost 224.11 points or 0.37 per cent on Wednesday.
The broader Nifty 50 of the National Stock Exchange was trading 74.35 points or 0.41 per cent down at 17,929.40 points against its previous day's close at 18,003.75 points.
The Nifty had lost 66.30 points or 0.37 per cent on Wednesday.
There was heavy selling pressure in IT stocks. Tech Mahindra slumped 2.86 per cent to Rs 1085.50. Infosys dipped 2.66 per cent to Rs 1435.70.
Tata Steel, Bajaj Finserv, Dr Reddy's Laboratories, IndusInd Bank, Titan, HCL Technologies and Asian Paints were among the major Sensex losers.
Only nine of the 30 scrips that are part of the benchmark Sensex were trading in the positive.
Maruti Suzuki jumped 3.35 per cent to Rs 9256.45. NTPC, Power Grid Corporation, SBI, HDFC, L&T and ICICI Bank were among the major Sensex gainers.