Bharat airtel, too added to the pressure.
The Sensex closed at 15,378 down 88 points and the Nifty fell 17 points to 4,590.
Sensex trades high; banking sees buying interest
At 1:59 pm, the Sensex traded higher while metal, banking, realty, oil marketing, FMCG, select technology, power and pharma companies shares witnessed buying interest.
The Sensex was up 67 points to 15,535 and the Nifty rose 27 points to 4,635.
In the oil & gas space, BPCL, GAIL, IOC, HPCL and Essar Oil rose from 2.4 to 3%. Cairn India was up by 0.51 per cent while ONGC rose to 0.29 per cent.
Axis Bank, ICICI Bank, Kotak Mahindra and SBI increased from 0.9to 1.7 per cent. In the realty space, Omaxe, Unitech, Sobha Developer, HDIL and Ackruti City were up from 1.5 to 2.5 per cent.
DLF and Indiabulls Real moved up 0.8 per cent.
In the metal pack, Sterlite Industries, JSW Steel, Jindal Saw, SAIL and Sesa Goa rose from 1to 3 per cent.
Tata Steel, Jindal Steel and Hindalco slipped from 0.6 to 0.9 per cent.
Top percentage gainers were Todays Writing, Ind-Swift Labs, Archies, Geodesic, Times Guaranty, Swiss Glascoat and Pioneer Distilleries, which rose from 10 to 15.5 per cent.
Top percentage losers were Aroni Comm, Gremach Infra, Steelcast, Nippo Batteries, Axis Capital, Tinplate, Fame India, Austral Coke and Shasun Chemical losing 5.5 to 10 per cent.
Nifty bounces back; metal, auto push high
At 11:16 am, the Nifty bounced back as buying in metal, realty, auto, select power, pharma and banking stocks pushed the market higher.
Reliance Communication rose to 4.5 per cent.
However, selling in Bharti, Tata Power, Cipla, HCL Tech and HDFC chopped gains.
The Sensex rose 74 points to 15,543 and the Nifty up 27 points, to 4,635.
With all the sectoral indices were in the green, the Realty Index increased by 2 per cent.
In the metal space, Sterlite Industries, SAIL, Tata Steel, JSW Steel, Sesa Goa, Hindalco and NALCO rose from 0.7 to 2 per cent.
Auto stocks like Bajaj Auto, Amtek Auto, Bharat Forge, Ashok Leyland, Hero Honda and Maruti Suzuki roese from 1 to 3.5 per cent. M&M and Tata Motors went up from 0.4 to 0.5 per cent.
In the realty space, Omaxe, HDIL, Unitech, Indiabulls Real, Ackruti City, Sobha Developer and DLF increased from 1.4 to 3.5 per cent.
Sensex looks up; realty, auto trade high
At 9:59 am, the sensex looked up due to the upside in Shanghai while realty, auto, metals and telecom companies' shares traded higher.
The Sensex was up 80 points at 15,547 and the Nifty gained 26 points at 4,634. The CNX Midcap rose to 65 points to 6,093 and the BSE Smallcap up 69 points to 6,938.
Suzlon Energy, Reliance Communication (on the back of Reliance Infratrel IPO), Unitech, SAIL, DLF, Ranbaxy Labs, Sterlite Industries, Reliance Capital, Tata Steel, Maruti Suzuki, Tata Motors, Bharti Airtel, BPCL and M&M were the gainers.
However, HDFC, HDFC Bank, Infosys and Wipro were trading weakly.
Midcap Maytas Infra was up 4.5 per cent and reached to Rs 130.
Provogue was up by 3 per cent and Archies rose to 5 per cent. Redington went up by 1.4 per cent and Strides Arcolab rose to 4 per cent.
Newly listed, NHPC went up by 1.5 per cent at Rs 36.85 a share.