Sensex down nearly 200 points; Nifty below 11,300

Domestic stock markets were trading with slight cuts in Wednesday's range-bound trade, weighed down by information technology (IT) stocks.

At 02:00 pm, the Sensex was down by 222.68 at 38,264.61 and the Nifty was down 48.25 at 11,252.10.

The Nifty sectoral indices were trading mixed, with the Nifty IT index, down 1 per cent, leading the list of losers.

The Indian rupee gained 6 paise to trade at 74.78 against the American dollar in early deals on tracking weakness in the greenback.

At the interbank forex market, the rupee was trading in a narrow range.

It opened at 74.83 against the US dollar gained further ground and touched 74.78 against the US dollar, up 6 paise over its last close of 74.84.

(With inputs from agencies)