Sensex corrects over 100 points, Nifty below 9,100; pharma stocks weigh

In the broader market, BSE Smallcap index outperformed the frontline indices to add 0.3%

The benchmark indices on Tuesday pared gains to slip in red even as Asian markets surged to 15-month highs on the prospects of a less-hawkish Federal Reserve policy trajectory.

At 11:37 am, the S&P BSE Sensex was trading at 29,386, down 132 points, while the broader Nifty50 was ruling at 9,091, down 36 points. 

In the broader market, BSE Midcap index underperformed the frontline indices to shed 0.7%, while BSE Smallcap index dipped 0.3%.

Buzzing stocks

Nifty Pharma index (down 2%) was the leading sectoral loser, led by losses in Divi's Labs and Dr Reddy's.

Dr Reddy's Laboratories slipped 5%