Markets turned negative after edging higher due to selling pressure in realty and auto shares. Brent crude topped $123/bbl, highest in 30 months led by escalating tensions in west Asia also weighed. After touching an high of 5923, the S&P CNX Nifty was down 30 points, at 5855 and Sensex dipped 84 points, at 19,504.
After rallying around 10%, markets have been moving sideways for the past three sessions.
All the sectors were trading in the red except FMCG, BSE realty and auto shares were leading the losses down over 1% each.
Top losers from the realty space were Indiabulls Real Estate, down 4%, Ackruti City fell 3.3% and Orbit Corporation fell 3.1%. Auto shares reversed gear, Ashok Leyland fell 1.6%, Hero Honda was off 1.3% and Maruti fell 1.1%.
Broader markets were also trading in the red, midcap and smallcap indices were down 0.4% and 0.3% each.
Top losers on the Sensex were Wipro, down 2.1%, JP Associates declined 2% and Tata Motors was off 1.9%. Only 6 components on the Sensex were trading in the green. Bharti Airtel was up 2%, ITC fell 0.5% and Hindustan Unilever declined 0.3%.
Market breadth was negative 923 stocks advanced for 1414 stocks which declined.
After rallying around 10%, markets have been moving sideways for the past three sessions.
All the sectors were trading in the red except FMCG, BSE realty and auto shares were leading the losses down over 1% each.
Top losers from the realty space were Indiabulls Real Estate, down 4%, Ackruti City fell 3.3% and Orbit Corporation fell 3.1%. Auto shares reversed gear, Ashok Leyland fell 1.6%, Hero Honda was off 1.3% and Maruti fell 1.1%.
Broader markets were also trading in the red, midcap and smallcap indices were down 0.4% and 0.3% each.
Top losers on the Sensex were Wipro, down 2.1%, JP Associates declined 2% and Tata Motors was off 1.9%. Only 6 components on the Sensex were trading in the green. Bharti Airtel was up 2%, ITC fell 0.5% and Hindustan Unilever declined 0.3%.
Market breadth was negative 923 stocks advanced for 1414 stocks which declined.
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