 "Markets slip into red; banks drag")
Markets slipped into negative territory after a flat start as profit taking in financials, L&T and ONGC capped gains in metal and IT majors.
At 1030 hrs, the Sensex was down 36 points at 22,515 and the Nifty was down 14 points at 6,738.
Broader markets were subdued with the midcap index down 0.4% and the smallcap index flat with a negative bias.
Meanwhile, Metal, Health Care and Consumer Durables indices gained 0.3-0.8%.
Auto, IT and Teck indices inched higher by 0.2% each.
Metal names like Hindalco, Sesa Sterlite and Tata Steel up 2-3.5% were the top gainers among Sensex-30.
Pharma names continued their gains with Dr Reddys Lab, Sun Pharma and Cipla adding 0.6-1.2%.
Tata Motors, HDFC Bank, Bajaj Auto, Maruti Suzuki and Infosys up 0.4-0.8% were the other notable gainers.
Index heavyweights L&T and SBI were down 1-2%.
Axis Bank, ONGC, Coal India, ICICI Bank and Gail India down 0.6-0.9% were the other major losers.
In individual names, IDFC rose 2.3% to Rs 131after the Reserve Bank of India granted in-principle bank licence to the company.
Shares of fifteen other banking licence applicants fell by 1-8% with L&T Finance Holdings, SREI Infrastructure Finance, IFCI, Muthoot Finance, IIFL Holdings , LIC Housing Finance and Reliance Capital slipping 3-8%.
The market breadth was positive on BSE. 752 stocks advanced while 620 stocks declined.
Global Markets
Asian shares hovered near four-month highs on Thursday as upbeat U.S. data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-weak peak.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% to brush a new four-month high. The index has rebounded about 6% from a five-week low hit on March 20, supported by receding tensions in Ukraine and hopes China will take steps to stimulate its sagging economy.
Tokyo's Nikkei outperformed to gain 0.9%.
Overnight, The S&P 500 closed at another record high on Wednesday as signs of steady private-sector hiring suggested that the economy was slowly building momentum after a winter-related pullback.
That also put more focus on Friday's government jobs data, which is among the most widely watched economic indicators.
The Dow Jones industrial average rose 0.24%, to end at 16,573. The S&P 500 gained 0.29%, to finish at 1,891, a record closing high. The S&P 500 also hit an intraday record high of 1,893. The Nasdaq Composite added 0.20%, to close at 4,276.
At 1030 hrs, the Sensex was down 36 points at 22,515 and the Nifty was down 14 points at 6,738.
Broader markets were subdued with the midcap index down 0.4% and the smallcap index flat with a negative bias.
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On the sectoral front, Capital Goods index was down 1.6% along with Bankex, Realty, Power and FMCG indices down over 0.1-0.6%.
Meanwhile, Metal, Health Care and Consumer Durables indices gained 0.3-0.8%.
Auto, IT and Teck indices inched higher by 0.2% each.
Metal names like Hindalco, Sesa Sterlite and Tata Steel up 2-3.5% were the top gainers among Sensex-30.
Pharma names continued their gains with Dr Reddys Lab, Sun Pharma and Cipla adding 0.6-1.2%.
Tata Motors, HDFC Bank, Bajaj Auto, Maruti Suzuki and Infosys up 0.4-0.8% were the other notable gainers.
Index heavyweights L&T and SBI were down 1-2%.
Axis Bank, ONGC, Coal India, ICICI Bank and Gail India down 0.6-0.9% were the other major losers.
In individual names, IDFC rose 2.3% to Rs 131after the Reserve Bank of India granted in-principle bank licence to the company.
Shares of fifteen other banking licence applicants fell by 1-8% with L&T Finance Holdings, SREI Infrastructure Finance, IFCI, Muthoot Finance, IIFL Holdings , LIC Housing Finance and Reliance Capital slipping 3-8%.
The market breadth was positive on BSE. 752 stocks advanced while 620 stocks declined.
Global Markets
Asian shares hovered near four-month highs on Thursday as upbeat U.S. data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-weak peak.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% to brush a new four-month high. The index has rebounded about 6% from a five-week low hit on March 20, supported by receding tensions in Ukraine and hopes China will take steps to stimulate its sagging economy.
Tokyo's Nikkei outperformed to gain 0.9%.
Overnight, The S&P 500 closed at another record high on Wednesday as signs of steady private-sector hiring suggested that the economy was slowly building momentum after a winter-related pullback.
That also put more focus on Friday's government jobs data, which is among the most widely watched economic indicators.
The Dow Jones industrial average rose 0.24%, to end at 16,573. The S&P 500 gained 0.29%, to finish at 1,891, a record closing high. The S&P 500 also hit an intraday record high of 1,893. The Nasdaq Composite added 0.20%, to close at 4,276.