Broadly negative global cues and caution ahead of the RBI policy pushed the key indices during the afternoon session on Wednesday to trade over 0.5 per cent lower from their previous close .
The market breadth was negative as a number of declining stocks was over twice the advancing once. A total of 627 stocks advanced while 1,534 declined at noon.
The NSE's Nifty50 traded 70.20 points lower at 10,799.30.
The crude oil prices remained volatile amid expectations of supply cuts by OPEC, the group of 15 of the world's top oil producers which is to meet on December 7. Brent crude traded lower at $61.29 per barrel.
The rupee continued to depreciate and traded at Rs 70.52 to a US dollar from its close of Rs 70.49.
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