With a few front line stocks finding strong support at lower levels, the market has regained a significant portion of lost ground amid high volatility in late afternoon trade today.
Still, with the mood remaining somewhat cautious with a negative bias, a strong close for the market looks a bit unlikely today.
The Sensex is down 6.45 points at 18,510.89 now. The Nifty is down 5.30 points at 5622.45.
Earlier, after a listless start, the market retreated and slipped a bit deep down into negative territory this afternoon after the Lok Sabha was adjourned amid protests over FDI in retail.
PSU, bank, realty and healthcare stocks are mostly trading weak. Stocks from FMCG and metal sectors are also struggling to move higher. Power, information technology and capital goods stocks are subdued as well. Select oil, consumer durables and automobile stocks are up in positive territory on modest support.
NTPC is trading lower by over 3% at Rs 158.85. Ranbaxy Laboratories is also trading more than 3% down. GAIL India is down by a little over 2% and Grasim Industries is down almost 2%.
Cipla, ITC, BPCL, Reliance Infrastructure, Sesa Goa, Jaiprakash Associates, Wipro, HDFC Bank, ICICI Bank, Bank of Baroda, ACC, Larsen & Toubro and Lupin are also trading notably lower.
Asian Paints is trading higher by over 2%. BHEL is up 1.7% and HCL Technologies is up with a gain of 1.6%. Reliance Industries and Tata Power are up by over 1%. Dr Reddy's Laboratories, Tata Motors, Hindustan Unilever, Sun Pharmaceutical Industries, IDFC and Tata Consultancy Services are also up in positive territory.