Sensex trades lower, Nifty below 8,400; RIL extends losses

The initial gains, thanks to a breakthrough on the dual control of Goods and Services Tax (GST) between Centre and the state governments, faded in the afternoon trade with the benchmark indices slipping in red zone. 

At 02:35 pm, the S&P BSE Sensex was trading at 27,207, down 81 points, while the broader Nifty50 was ruling at 8,384, down 29 points. 

In the broader market, the BSE Midcap was down just 0.1%, while BSE Smallcap was up 0.2%.

The market breadth, indicating the overall health of the market, turned negative. On the BSE, 1,271 shares rose and 1,371 shares declined.