Indian market was trading lower at 12.21 PM IST with BSE Sensex down by 70 points at 17560 and NSE Nifty down by 0.43% at 5311. Dow Jones and Nasdaq closed flat on Tuesday and Asian markets were trading marginally higher in today’s session.

Nikkei 225 was up by 36 points at 9069. Straits Times was up by 8 points at 3047. Hang Send was flat while KOSPI was up by 0.63 per cent.

Jaiprakash Associates was among major losers in today’s session. The stock lost nearly 7% on back on high volumes. The stock touched intraday low of Rs 64.10 on NSE. The company has announced plan to raise USD 200 million with FCCB issues. Steel major SAIL was down by 4.2% at Rs 79 on NSE. Sesa Goa, Bajaj Auto, ONGC, Sterlite Ind, BHEL, DLF, ONGC, Hero Motorcorp, IDFC, Hindalco and BPCL.

Among banking counters, PNB, SBI, HDFC and Axis Bank were under pressure. ICICI Bank was trading flat.

Among major gainers in today’s trading session were Tata Power, Wipro, Jindal Steel and HDFC Bank. Some select stocks in midcap space were noticing good buying demand. Wockhardt, Welspun Corp, Phoenix Mills, Motilal Oswal, India infoline, Bajaj Corp, Ipca Labs, Dewan Housing, Federal Bank and Strides Arcolab were trading with decent gains.

Indian markets are expected to close in negative zone today. USD-INR was trading marginally lower. Euro-INR was also down at 69.85.