Markets continue trading lower in noon trade; pharma stocks drag

Pharma stocks were biggest losers with Nifty Pharma posting its sixth consecutive session of loss

Benchmark indices continued to trade lower in the afternoon trade with Nifty hovering around 9,400-level as investors booked profit in recent outperformers. The street also took cues from the global markets which were mostly trading lower post the explosion, at a concert by US singer Ariana Grande shook Manchester.
 
At 1:01 pm, the S&P BSE Sensex was trading at 30,455, down 115 points, while the broader Nifty50 was ruling at 9,403, down 34 points.
 
The broader market underperformed the benchmark indices with S&P BSE Midcap and the S&P BSE Smallcap indices dipped 1.2% and 1.7% respectively.
 
Maruti,