Continuing its declines for fourth straight session, Indian equity markets are trading with deep cuts in the second hour of trade on Thursdayamid negative Asian peers.

At 10:40 am, the Sensex at the Bombay Stocks Exchange (BSE) was trading 345 points down at 25062 while the Nifty at the National Stock Exchange (NSE) was trading 110 points lower at 7631.

In the broader markets, BSE MidCap index plunged 1.6 per cent while SmallCap index plummeted 2 per cent.

In the Sensex-30 pack, Bharti Airtel climbed 0.7 per cent to become the top gainer while ONGC registered the biggest cut with a dip of 3.9 per cent.

On the currency front, the Rupee was trading 9 paise down at 66.91 against the US Dollar.