Amid weak factory data from China and India earlier in the week fueling concerns of a slowdown in global growth and a sustained weakness in the domestic currency pulled the benchmark Sensex down 170 points during the afternoon session on Thursday.
Energy, oil and gas and capital goods came under heavy selling pressure while realty traded in the green on the expectation that the GST Council at its January 10 meeting will bring down the tax rate on under-construction housing to 5 per cent from 12 per cent
FMCG also stocks managed to advance.
At 1.55 p.m., the Nifty50 traded at 10,685.40, lower by 107.10 points or 0.99 per cent from the previous close of 10,792.50.
The S&P BSE Sensex, which had opened at 35,934.50, traded at 35,574.43, lower by 317.09 points or 0.88 per cent from the previous close of 35,891.52.
So far, it has touched an intra-day high of 35,999.66 and a low of 35,546.33.
The Indian currency weakened by 12 paise on Thursday to trade at 70.29 per dollar, against the previous close of 70.17 per dollar