Equity benchmarks extended losses amid consolidation, with the Sensex falling more than 100 points.
The 30-share BSE Sensex was down 111.29 points at 32,126.59 and the 50-share NSE Nifty down 20.05 points at 9,993.60.
About 1,255 shares declined against 893 advancing shares on the BSE.
IOC gained more than 4 percent after earnings.
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