Sensex down 300 points, rupee above 71

Mumbai, Dec 6 (IANS) Uncertainty over the outcome of Assembly elections and a weak rupee sent the Sensex plunging over 350 points during the afternoon session of the trade on Thursday.

All the sectors on the BSE and NSE traded in the red. 

At 1 p.m., the S&P BSE Sensex traded 303.74 points lower or 0.85 per cent at 35,580.67 from its previous close of 35,884.41. It touched a high of 35,707.23 and a low of 35,468.12.

The NSE's Nifty50 traded 103.75 points or 0.96 per cent lower at 10,679.15.

The crude oil prices remained volatile amid expectations of supply cuts by OPEC, the group of 15 of the world's top oil producers which is to meet on December 7. 

Brent crude traded lower at $60.91 per barrel after US President Donald Trump said: "Hopefully OPEC will be keeping oil flows as is, not restricted. The world does not want to see, or need, higher oil prices!"

The rupee continued to depreciate and traded at Rs 71 to a US dollar from its close of Rs 70.46.