Mumbai: BSE benchmark Sensex dropped by 201 points in late morning deals, cracking below the psychologically important 28,000-mark, dragged down mainly by selling in energy, consumer durables, oil&gas, banking, healthcare, finance and realty sectors.
The market breadth indicating the overall health of the market turned negative from positive in morning trade.
The BSE Mid-Cap index and the BSE Small-Cap index was currently down by 0.91 per cent and 0.75 per cent, respectively.
The 30-share index resumed higher at 28,133.36 and later moved in a range of 28,143.28 and 27,846.57. It was quoting at 27,883.67 at 1110 hours, showing a fall of 201.49 points or 0.72 per cent from its last close.
The NSE 50-share Nifty also quoted lower by 72.70 points or 0.84 per cent at 8,605.55.
Major losers were, Lupin 2.70 pct, ICICI Bank 1.77 pct, Reliance 1.76 pct, Tata Motors 1.32 pct, Dr Reddy 1.22 pct, Maruti 1.21, Gail 1.13 pct, Larsen 1.10 pct and Cipla 1.00 per cent.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 144.15 crore yesterday, as per provisional data released by the stock exchanges.
In overseas markets, most Asian stocks were trading higher. US stocks ended slightly higher yesterday, with the Nasdaq Composite index posting a fresh record close, as investors kept an eye on falling oil prices.