After leading the markets to open on a positive note, IT heavy weight, Infosys dipped in the second half of the session on profit booking.
All sectoral indices ended the session in the red. Selling banking, auto, capital goods and select power shares weighed on the markets.
Reliance Industries fell by 1 per cent. This also added more pressure.
However, telecom stocks and ONGC outperformed the markets.
4: 35 PM
Selling in banks, FMGC, auto weigh on Sensex
Markets continue to trade lower. At 1.15 pm, Sensex was down 68.71 points or 0.41 per cent at 16774.83, and the Nifty was down 14.60 points or 0.29 per cent at 4987.65.
Selling in banks, FMCG, auto and capital goods, along with negative contributors like Reliance, Infosys, ICICI Bank, L&T and HDFC dragged Sensex lower.
Top losers were Tata Motors down 5.01 per cent, SBI down 2.55 per cent, Grasim down 1.94 per cent, HDFC down 1.77 per cent and Sterlite Ind down 1.61 per cent. Cigarette major ITC was trading down 1.36 per cent while Refinery major HPCL was trading at Rs 392.60 down 0.75 per cent.
However, top gainers were Bharti Airtel up 4.75 per cent, Reliance Comm up 3.09 per cent, ONGC up 1.56 per cent, DLF up 1.36 per cent and Tata Steel up 0.82 per cent.
The midcap and smallcap indices were up 0.50 per cent each.
The gainers among the Midcaps were HT Media, Exide Industries, Spice Comm, Alfa Laval and IDBI Bank which were trading up by 5 to 6 per cent.
2: 23 PM
Mkts -ve amid volatility; FMGC, auto, banking dip
Slipping after a positive open, the Indian markets are not trading amid volatility. At 12: 06 pm, Sensex was down 104 points at 16,739 and the Nifty was down 30 points at 4,972.
Trading on the higher side, up by 0.8 to 1 per cent, the broader indices outperformed the benchmarks.
Sell off was seen in Banking, FMCG, capital goods and auto stocks.
On a positive note, telecom stocks were experiencing buying interest after suffering dip for four days due to TRAI's plan to implement the pay-per-second tariff.
Technology stocks (except Wipro), realty and select pharma stocks were also trading on the higher side.
Among largecaps, Tata Motors lost 5.06 per cent due to equity dilution, SBI plummeted 2.71 per cent, while ITC, PNB, ICICI Bank and Sterlite Industries fell 1.8 to 2.1 per cent.
The gainers were Bharti Airtel up 3.68 per cent. Reliance Communication and Idea Cellular were up 2.5 per cent each. ONGC, DLF, Infosys, HCL Tech and ONGC gained 0.5 to 2.1 per cent.
The gainers among the midcaps were xide Industries, Spice Communication, HT Media, IDBI Bank and Sun Pharma Advanced. However, United Phosphorous, Asian Star, Carborundum, Anant Raj Industries and Shipping Corp fell 2.5 to 6 per cent.
In the smallcap arena, Modern India and Suashish Diamon gained 15-16%. GIC Housing Finance, Dewan Housing and Century Plyboard went up 7 to 10.5 per cent while Zenotech Labs, Zodiac Clothing, Mastek, Geekay Finance and Religare Techn slipped 4.5 to 8 per cent.
12: 58 PM
Mkts open green; IT gains on Infy Q2 numbers
Apart from strong global cues, positive Q2 results and encouraging guidance for the Q3 posted by the IT giant, Infosys helped the Indian markets open higher.
At 9:57 am, the Sensex was up 50 points at 16,893 and the Nifty was up 21 points at 5,023.
While technology, telecom and metal were seeing buying interest, banking and FMCG stocks were under pressure.
At 9:57 am, the Sensex was up 50 points at 16,893 and the Nifty was up 21 points at 5,023. About 637 shares advanced while 162 shares declined on the NSE.
The gainers among the frontliners, were TCS and Bharti up 3 per cent each, Hindalco up 2 per cent and Reliance Communication up 1.5 per cent.
Unitech and Tata Steel were the other gainers.
Tata Motors was down over 3 per cent. ICICI Bank, HDFC were other losers.
10: 18 AM