The market, which pared early gains, slipped a bit deeper into the red in late morning trade, and is still languishing in the red with some key stocks from information technology, FMCG and oil sectors trading weak.
Capital goods and realty stocks, which opened on a buoyant note, continue to trade firm thanks to sustained buying support. Metal and automobile stocks are among the other prominent gainers.
IT stocks HCL Technologies (down 4%), Infosys (down 1.3%), Tata Consultancy Services (down 3%) and Tech Mahindra (down 2.2%) are trading sharply lower. Wipro is down marginally, while Financial Technologies, Hexaware Technologies, Oracle Financial Services and Mphasis are up in positive territory with notable gains. MindTree is trading flat.
Capital goods sector heavyweight Larsen & Toubro is up as much as 5.6% at Rs 920.50, with the company's strong order book wooing investors to the counter.
Pharma stock Ranbaxy Laboratories moved up more than 3% following an announcement from the company that India's Central Drugs Standard Control Organisation to manufacture and sell 'Synriam' for treatment of uncomplicated malaria in adults, caused by Plasmodium vivax parasite.