With a few front line stocks retreating to lower levels on facing stiff resistance, the benchmark indices Sensex and Nifty have given up almost their entire gains this afternoon.
The Sensex, which rose to 19,824.06 earlier in the day, is currently down 6.81 points or 0.03% at 19,735.71. At 5993.05, nearly 30 points off the day's high of 6020.10, the Nifty is now down 8.65 points or 0.14% from its previous closing mark.
FMCG, metal and information technology stocks are trading weak, even as key stocks from automobile, realty and healthcare sectors continue to hold firm. Oil and capital goods stocks are off their highs. Bank and power stocks are trading mixed.
Tata Motors is trading firm with a strong gain of 4.5% thanks to a rating upgrade by top research firms. Coal India, Mahindra & Mahindra, GAIL India, Bharti Airtel and Sun Pharmaceutical Industries are up 1% - 1.8%.
HCL Technologies, Cipla, State Bank of India, Dr Reddy's Laboratories, Tata Power, Maruti Suzuki, Reliance Industries and Larsen & Toubro are also up in positive territory.
BHEL has lost around 2%. Tata Steel, Tata Consultancy Services, ITC, Ultratech Cement, Ambuja Cement, IDFC, HDFC, Hero Motocorp, NTPC, Jindal Steel & Power, Axis Bank, ACC and Hindustan Unilever are also trading notably lower.
Junior Nifty stocks Mphasis, Federal Bank, Divi's Laboratories, Shriram Transport Finance, GMR Infrastructure, Hindustan Petroleum Corporation, Tech Mahindra, Bank of India and Power Finance Corporation are up 1% - 2.5%.
Exide Industries, Titan Industries, SAIL, Union Bank of India, Biocon, United Phosphorus, LIC Housing Finance, Adani Ports and Petronet LNG are trading weak.