The Sensex has slipped into the negative terrain and touched a low of 14,733, down 313 points from the day's high.The index is now 50 points lower at 14,824.
The BSE IT and Bankex indices are down 1.5% each at 3,077 and 8,053, respectively.
Tata Motors has soared 4.5% to Rs 365.
ACC and Jaiprakash Associates have gained over 3.5% each at Rs 814 and Rs 224, respectively.
Grasim, Hindalco, ITC, Reliance Communications, Sterlite and Tata Steel have added 2-3.5% each.
The other gainers are Tata Power, Sun Pharma, Ranbaxy and Hindustan Unilever.
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Mahindra & Mahindra has slipped 4.2% to Rs 694. Infosys and SBI have dropped 2.2% each to Rs 1,643 and Rs 1,867.
ICICI and Reliance Communications are down 1% each.
The market breadth is slightly positive, out of 2,783 shares traded, 1,813 have advanced and 910 have declined so far on the BSE.