Sensex, Nifty volatile after China market cracks

The broader market however, continues to trade on a firm note. The CNX Smallcap index has spurted over a percent at 5,723. The CNX Midcap index has gained 0.7 percent at 14,071.On the other hand, the CNX Metal index has dropped 0.5 percent. The CNX FMCG and the CNX Energy indices have declined 0.2-0.3 percent.

The market has pared most of its earlier gains and is now trading on a flat note in late morning deals.

At 12:06 PM, the Sensex is down 49 points at 27,829. The Nifty is down mere four points at 8,473.

The broader market however, continues to trade on a firm note. The CNX Smallcap index has spurted over a percent at 5,723. The CNX Midcap index has gained 0.7 percent at 14,071.

Among sectoral indices the CNX IT index is the top gainer - up 1.7 percent. The CNX PSU Bank index has jumped 1.2 percent. The CNX Auto index has added 0.6 percent.

On the other hand, the CNX Metal index has dropped 0.5 percent. The CNX FMCG and the CNX Energy indices have declined 0.2-0.3 percent.

Among Nifty losers - Gail has tumbled 3.4 percent at Rs. 334. NMDC has dropped nearly 3 percent at Rs. 96.20.

Cipla has shed almost 2 percent at Rs. 690. Idea Cellular and Coal India have slipped over 1.5 percent each at Rs. 160 and Rs. 374, respectively.

Lupin, Cairn India, Tata Power, ITC and HDFC Bank are among the notable losers.