The markets have slipped into red, capital goods, banking and IT stocks are the major draggers. The Sensex is now down 45 points at 18,128. The NSE Nifty is down 13 points at 5434.
Hero Honda and Tata Steel are the major losers followed by TCS, DLF and Hindalco.
(Updated at 1419 hrs)
The markets have pared most of their gains in the last few minutes of trade. The Nifty has moved in a range 5445-5480 for most part of the trading day. Since past two days Nifty is unable to break out from the resistance of 5500.
The Nifty is up seven points at 5454. The Sensex is up 10 points at 18,183.
Broader markets continue to outperform the benchmark Sensex, Midcap index is up 0.7% at 7,573, Smallcap index is up 1% at 9,656.
From the midcap space media stocks Den Networks has zoomed 10% at Rs 235, Hathway Cable up 8.9% at Rs 212, and Dish TV is up 7% at Rs 50. All these stocks have outperform on back new regulations about digitization by TRAI.
Another midcap stock REI Agro has soared 7%, although it was 13% earlier in the day.
Among the smallcap Resix Tenr is up 19% at Rs 74 and Hinduja Ventures is up 15% at Rs 453.
FMCG index is lead gainer up 1% led by gains in ITC up 2.4% and Godrej Consumers up 1.2%.
Bankex is a laggard in trade down 0.3%, dragged down by Federal Bank and Indusind bank down over 1%
The market breadth remains positive with 1,781 stocks advancing and 1,104 declining.