Mumbai, Oct 5 (IANS): Caution ahead of the likely RBI rate hike on Friday, the investor sentiments' were subdued leading the S&P BSE Sensex to lose over 400 points during the afternoon trade session on the day, while the Nifty50 traded below the 11,500 point-mark.

A heavy selling pressure was witnessed in oil and gas stocks which lost 11.29 per cent from its previous close. Among others who dragged the Sensex down were FMCG and energy counters.

The Sensex has lost over 1,300 points and the Nifty50 has shed over 400 points in just the last two trading sessions.

At 12.50 p.m.,the Nifty50 of the National Stock Exchange, was trading at 10,435.75 points down 163.50 points or 1.54 per cent from its previous close.

On a similar note, the S&P BSE Sensex which opened at 35,097.99 points was trading at 34,762.83 points down 406.33 points or 1.16 per cent from its previous close.

It touched an intra-day high of 35,118.54 points and a low of 34,689.30 points.