Markets extended losses in morning trades after opening on a firm note.
The Sensex opened at 18,425 and touched a high of 18,452 on strong cues from global markets. However, it soon slipped into red as auto stocks weakened. After a short lived recovery, the Sensex dropped to a low of 18,140 - down 180 points.
Nifty was down 61 points at 5,445.
Asian markets were in the green as fears of the Egyptian turmoil spreading eased a bit. Hang Seng added 53 points to 23,500 and Nikkei jumped 35 points to 10,273.
Most sectoral indices were down, barring consumer durables and metal. Metal index gained marginally as prices rose in the London Metal Exchange.
BSE auto index dropped 1.3% to 8,778 ahead of the announcement of the monthly vehicle sales data.
Tata Motors shed 4% at Rs 1,104. Exide Industries, Maruti Suzuki, Mahindra & Mahindra and Ashok Leyland were among the other losers in the index.
FMCG, realty, IT and power indices were also in red.
ITC and Jindal Steel dropped 2.7% each to Rs 159 and Rs 646, respectively.
Wipro, ICICI Bank, Jaiprakash Associates, BHEL and NTPC were down 1-2% each. Among other losers were Mahindra & Mahidnra, Infosys, DLF, Maruti Suzuki and Reliance.
Meanwhile, HDFC gained 2% to Rs 643. Hindalco and Sterlite added 0.6% each to Rs 231 and Rs 166, respectively.
