The market is still struggling with the Nifty under 8900. The 50-share index is down 72.75 points or 0.8 percent at 8879.75 and Sensex is down 223.28 points or 0.8 percent at 28822. About 795 shares have advanced, 1375 shares declined, and 130 shares are unchanged.
ONGC, Wipro, GAIL, TCS and Reliance are top gainers while Hero MotoCorp, HDFC, Axis Bank, ITC and Bajaj Auto are losers in the Sensex.
Oil prices pulled back on profit-taking after settling more than 4 percent higher a day earlier, following a surprisingly huge drawdown in US crude stocks as Gulf Coast imports slumped to a record low.
Brent and West Texas Intermediate crude futures have gained about 6 percent this week and are on course for their biggest weekly gain in three weeks, after major producers Saudi Arabia and Russia agreed on Monday to cooperate on stabilising the oil market.
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