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Stock markets dropped further to trade in the pessimistic zone as traders started booking profits ahead of May series expiry.

The majority of the sectoral indices were ruling in the negative terrain with real estate, technology and capital goods space the worst hit.

At 11:05 a. m., the 30-share index BSE Sensex clipped 102.97 points (0.57%) to trade at 17909.

Thus far, it hit an intraday high of 17976.36 and an intraday low of 17905.29.

In contrast, the broad-based Nifty remained 30.20 points down at 5364.65 after touching an intraday high of 5389.10 and an intraday low of 5362.30.

According to Angel Broking, "The trend deciding level for the day is 18,019/5,395 levels. If Nifty trades above this level during the first half-an-hour of trade then we may witness a further rally up to 18104-18195 / 5422-5450 levels. However, if Nifty trades below 18019 / 5395 levels for the first half-an-hour of trade then it may correct up to 17927-17842/5367-5340 levels."

BSE Midcap Index declined 0.28% and BSE Smallcap Index remained 0.02% up.

Amongst sectoral indices, the BSE Realty Index dipped 1.53%, BSE IT Index declined 1.44% and BSE Capital Goods Index fell 0.87%.

The BSE Healthcare Index surged 0.36%.

The major losers in the list consisted of DLF, Rel Comm, TCS, Tata Power and Infosys.

DLF registered a declined of 19.19% in its consolidated net profit, which stood at Rs 344.54 crore for the three month period ended March 11 as against Rs 426.38 crore during the corresponding quarter a year ago.

Company's sales remained at Rs 2,683.09 crore as compared to Rs 1,994.37 crore last fiscal.

The gainers list comprised Jindal Steel, HDFC, Tata Motors, ITC and Sterlite Industries.