Sensex trades lower, Nifty falls below 8,400; RIL sheds around 3%

BSE Midcap and BSE Smallcap indices registered an uptick of 0.03%, and 0.4%, respectively

Benchmark indices pared opening gains to turn negative as IMF cut India’s GDP forecast to 6.6% from the previous 7.6%. The sentiment was also affected as dual-control issue was resolved in the GST Council meet yesterday and all agreed on July 1 as its date of implementation.
 
Global investors also await UK PM Theresa May's Brexit speech. According to reports, she will lay out plan to exit the European Union that would see Britain lose access to the bloc's single market.
 
At 12:30 pm, the S&P BSE Sensex was trading at 27,222 down 65 points, while the broader