The Sensex has slipped into the negative zone owing to selling in the banking stocks. The index has touched a low of 17,028 and is now hovering around this level. The Nifty is at 5,089, down 16 points.
Among the sectoral indices, bankex index is down 1% at 9,861.
Reliance Communications has declined 2.5% to Rs 176. SBI, Maruti and ICICI Bank have slipped over 1.5% each to Rs 2,208, Rs 1,580 and Rs 839, respectively.
HDFC Bank, Tata Motors, Bharti Airtel and BHEL are down 1% each.
Mahindra & Mahindra, Hindalco and ITC have advanced around 1.5% each at Rs 1,051, Rs 142 and Rs 1,049, respectively.
Tata Steel, Hindustan Unilever, Sun Pharma and TCS are firm at Rs 551, Rs 270, Rs 1,460 and Rs 708, respectively.
The market breadth has turned negative. out of 2,679 shares traded, 1,490 have declined and 1,102 have advanced so far on the BSE.