The key equity indices traded in the red during the afternoon session on Thursday due to a weak rupee along with profit booking ahead of August futures and options expiry later in the day.
The indices had however opened on a positive note but could not hold on to the gains.
The Indian currency earlier in the day touched its lowest-ever mark of 70.81-82 per US dollar which dampened the market sentiments.
According to analysts heavy selling pressure was witnessed in banking stocks followed by finance and FMCG counters.
The wider Nifty50 on the National Stock Exchange traded at 11674.80 points lower by 17.10 points or 0.15 per cent from its previous close of 11 691.90 points.
The benchmark S&P BSE Sensex which had opened at 38 796.98 points traded at 38 667.01 points lower by 55.92 points or 0.14 per cent from its previous close of 38 722.93 points. So far it has touched an intra-day high 38 819.06 points and a low of 38 624.23 points.
The top gainers on the Sensex were Tata Steel Sun Pharma ONGC ITC and Bharti Airtel while IndusInd Bank Kotak Mahindra Bank Yes Bank Reliance Industries and Asian Paints were the major loser so far.>