The Sensex has extended losses and is now down 34 points at 9,223. Earlier in the day, the index opened 77 points higher at 9,334, and touched a high of 9,380.
Jaiprakash Associates, Tata Steel and Mahindra & Mahindra have rallied over 3% each to Rs 68, Rs 183 and Rs 293, respectively.
Maruti has surged nearly 3% to Rs 535. HDFC has advanced 2% to Rs 1,535, and ICICI Bank has added 1.6% to Rs 415.
Ranbaxy and DLF have slumped around 4% each to Rs 205 and Rs 171, respectively.
Wipro has shed 3.4% at Rs 226. BHEL, Bharti Airtel and NTPC have dropped 2.7% each to Rs 1,356, Rs 636 and Rs 186, respectively.
Reliance Communications, Sun Pharma and Reliance have slipped over 2% each to Rs 162, Rs 1,132 and Rs 1,247, respectively.
The market breadth is marginally negative - out of 2,269 stocks traded so far, 1,145 have declined, 1,028 have advanced and the rest are unchanged.