The market is still under selling pressure as auto, banks and metals heavyweights in red. The Sensex is down 243.27 points or 0.9 percent at 27839.07 and the Nifty is down 76.60 points or 0.9 percent at 8632.20. About 768 shares have advanced, 1305 shares declined, and 82 shares are unchanged.
Infosys, ONGC, Cipla and GAIL are top gainers while ICICI Bank, Adani Ports, Tata Motors and BHEL are losers in the Sensex.
Oil prices fell after OPEC said that its production had risen to its highest level in at least eight years and following reports of an increase in US crude stockpiles.
Traders said oil markets had come under pressure after Organization of the Petroleum Exporting Countries (OPEC) reported a rise in production, despite the producer cartel having plans, potentially with non-OPEC producer Russia, to cut output in a bid to rein in a global supply overhang.
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