Fifteen of 19 sector gauges compiled by BSE were trading lower led by the Metal Index's 1.2% decline.The SP BSE Sensex and NSE Nifty 50 Indexes came off intraday low levels as gains in bluechip stocks like Tata Consultancy Services (TCS), Infosys, Reliance Industries, ITC and HDFC Bank were offset by losses in ICICI Bank, State Bank of India, Larsen Toubro and Maruti Suzuki.
In the opening deals, the Sensex declined as much as 114 points to 39,636.18 and the NSE Nifty index moved below its crucial psychological level of 11,900 but came off intraday low levels on the back of buying interest in select information technology (IT) and energy shares.As of 11:26 am, the Sensex traded 0.08 per cent or 32 points lower at 39,717 and the NSE Nifty 50 Index fell 0.1 per cent or 12 points to 11,916.Fifteen of 19 sector gauges compiled by BSE were trading lower led by the SP BSE Metal Index's 1.2 per cent decline.
Auto, Basic Materials, Consumer Discretionary Goods Services, Industrials, Oil Gas and Realty sector gauges also dropped between 1.1 and 0.6 per cent each.On the flipside, SP BSE Information Technology Index was top gainer, up 1.12 per cent.Mid- and small-cap shares were witnessing selling pressure as the SP BSE MidCap Index declined 0.4 per cent and the SP BSE SmallCap Index fell 0.15 per cent.Vedanta was top loser in the Nifty 50 basket of shares, the stock fell 2.6 per cent to Rs 165.15.
Zee Entertainment, ONGC, ICICI Bank, State Bank of India, UPL, Indiabulls Housing Finance, Indian Oil, Tata Motors and JSW Steel were also among the losers.On the flipside, Bharti Infratel, TCS, GAIL India, HCL Technologies, Wipro, Britannia Industries and Yes Bank were among the gainers.The overall market breadth was marginally negative as 1,183 shares were declining while 970 were advancing on the BSE.