The BSE Sensex is down 8.56 points or 0.04% at 20152.26, and the Nifty down 8.55 points or 0.14% at 6102.70. Sun Pharma shares extended gains to 7.3 percent on value buying after strong fourth quarter earnings and a 1:1 bonus issue.

Equity benchmarks are trading lower amid choppy trade, weighed down by financials and capital goods stocks. Reliance Industries shares declined 0.7 percent on profit booking, after it rallied 6 percent in previous two sessions on gas discovery in KG D6 block.

Sun Pharma Advanced Research gained 4 percent following a rally in Sun Pharma that jumped more than 7 percent due to strong earnings. Jaypee Infratech dropped more than 9 percent, as promoter Jaiprakash Associates will sell 12 crore equity shares of the company via offer for sale on Thursday.

It fixed a floor price at Rs 35 a piece, a discount of 11.8 percent to previous day’s closing price of Rs 39.7. JP Associates hold 83.16 percent stake in the company as of March 2013. AstraZeneca Pharma recouped previous day’s losses, rising 16 percent after a completion of offer for sale issue that got fully subscribed.

Novartis India is the second top gainer on BSE Midcap, rising nearly 9 percent after promoter Novartis AG said would sell up to 4.5 lakh shares via offer for sale on Thursday. The promoter holds 76.42 percent stake in the company.

The government hopes to divest 9.3 percent stake in MMTC in next 15 days via offer for sale, says cogencis quoting government sources. The government had deferred the MMTC divestment in March on valuation issues.

MMTC crashed 5 percent to Rs 228 on Bombay Stock Exchange.  ONGC, Cipla, Tata Motors, HDIL in focus Indian equity benchmarks remain volatile since early trade due to mixed Asian cues. May series of the Nifty will expire tomorrow that is also adding to volatility.

The Sensex is down 8.56 points or 0.04% at 20152.26, and the Nifty down 8.55 points or 0.14% at 6102.70. Sun Pharma shares extended gains to 6.5 percent on value buying after strong fourth quarter earnings and a 1:1 bonus issue. Ricoh India shares surged 17 percent amid large volumes, after its fourth quarter net profit jumped 400 percent year-on-year to Rs 61.2 crore. Sales of the company also rose by 50 percent from Rs 162.5 crore to Rs 239 crore.