Shares of financial and metal companies were struggling most and heavyweights Reliance Industries, ITC and Bharti were among other losers.
Tata Motors, Jindal Steel, Rel Capital, BPCL were among the top gainers with 5.16 percent, 3.33 percent, 2.14 percent, 2.09 percent up.
Unitech, Tata Steel, IDFC, HDFC were among the top losers with 3.31 percent, 3.00 percent, 2.60 percent, 2.42 percent down.
Markets continue in red on global cues
At 1:30 pm, the BSE Sensex remained flat with a negative bias on sell-off across the globe for second consecutive day .
Financials were dragged by HDFC down 2pc and SBI was down 0.6pc. Axis Bank, ICICI Bank, Kotak Mahindra Bank and PNB 0.16-0.4pc.
European markets like France's CAC, Germany's DAX and Britain's FTSE were trading one percent lower.
Markets were dragged by Capital goods, healthcare, realty, technology, select metal and telecom companies' shares along with Reliance Industries, M&M and ITC
Buying was seen in Tata Motors up 5.6pc, ONGC, Hindalco up 2.7pc, HUL, BPCL, NTPC, Idea, HDFC Bank.
The Sensex was at 18148, down 71 points and the Nifty was at 5442, down 18 points.
Tata Motors, Raymond, Anant Raj Inds, Tata Motors (DVR), Tata Steel, Bharti Airtel, Educomp Solutions and Reliance were the most active shares on exchanges.
In the midcap space, Tata Investment Corp jumped 12.17pc and United Breweries rose 11pc. Cox & Kings, Gammon Infra and Bajaj Finserv gained 4.5-5pc while Educomp Solutions, IVRCL Infrastructure, Jubilant Foodworks, Infotech Enterprise and Deccan Chronicle lost 3-9pc.
In the smallcap space, Raymond surged 17.72pc. Karuturi Global, Mount Everest, Empire Ind and Hitachi Home were up 6-9pc while Subhkam Capital, Well Pack Paper, TCI Industries, Take Solutions and LGS Global declined 4.5-5pc.
Sensex continues to slip; HDFC, Bharti drag
At 10:52 am, the benchmark Sensex was on two negative moves.
Technology, auto and healthcare companies' shares along with ITC, Reliance Industries, HDFC, Bharti, SBI, Tata Steel and L&T were dragging the markets.
Buying was seen in Tata Motors, HUL, Hindalco, ICICI Bank, GAIL, BPCL, SAIL, Idea, Tata Power and HDFC Bank.
The Sensex was at 18209, down 10 points and the Nifty was at 5459, down 1.25 points.
Bharti Airtel was down 0.75pc. India's largest telecom operator has reported net profit of Rs 1,681 crore as against Rs 2044.3 crore, a de-growth of 17.77pc on quarter-on-quarter basis due to forex and derivative fluctuations- as per International Financial Reporting Standards (IFRS).
Tata Motors reported consolidated net profit of Rs 1,989 crore as against loss of Rs 328 crore, boosted by strong performance in its luxury brand Jaguar Land Rover.
In the midcap space, United Breweries, Tata Investment Corp, Anant Raj Inds, Cox & Kings and Financial Tech gained 5-11pc while Educomp Solutions, IVRCL Infrastructure, Pipavav, Jubilant Food and Rashtriya Chemical fell 2-8pc.
In the smallcap space, GMR Industries, Karuturi Global, NRB Bearings, Raymond and VasconEngg went up 6-8pc while Maharashtra Polybutenes, Well Pack Paper, LGS Global, TCI Industries and Asian Hotels lost 3.6-5.7pc
Markets start on flat note
The benchmark Nifty started on a flat note despite weakish global cues. Tata Motors and Hindalco were the star performers.
At 9:01 am, the Sensex was at 18236, up 16 points and the Nifty was at 5466, up 6 points. About 509 shares advanced while 268 shares declined on NSE.Tata Motors shot up 5.3pc
Hindalco rose 2.5pc post Novelis numbers. Novelis Q1 net sales rose 5pc to USD 2.5 billion and adjusted EBITDA jumped 13pc to USD 263 million.
GAIL, Jindal Steel & Power, BPCL, Tata Steel, Hindustan Unilever, Infosys, DLF, Reliance Industries, Reliance Capital and Suzlon Energy were witnessing buying interest.
Losers were Bharti Airtel was down 1.2pc ahead of numbers. Cairn, HCL Tech, HDFC, Sun Pharma and ITC.
TTML was up 4pc as DoCoMo will invest USD 1 billion in Tata Teleservices.
Provogue rose 2.5pc. Den Networks was up 5pc post numbers; It has reported consolidated net profit of Rs 10 crore as against Rs 3.2 crore and Rs 17 crore.
Asian Hotel was trading at Rs 402, up 3955pc over face value of Rs 10.