MUMBAI: Benchmarks pared most of the intraday losses and were above psychological support levels as buying activity resumed up at lower levels. Profit booking in banks, realty, metals and auto kept the market under pressure while FMCG, pharmaceuticals and oil&gas space provided support.
At 12:45 pm; National Stock Exchange's Nifty was at 5555.30, down 36.70 points or 0.66 per cent. The broader index touched a high of 5559.70 and low of 5521.95 intraday.
Bombay Stock Exchange's Sens*x was at 18499.28, down 109.53 points or 0.59 per cent. The 30-share index hit a high of 18510.84 and low of 18390.57 in trade so far.
"The crossover in the 5&20-day EMA on the daily chart along with consolidation on the hourly suggests a possible continuation of upside momentum. On the upside if indices trade above 18636 / 5600 then indices are likely to test 18786 - 18936 / 5650 - 5700 levels. On the downside, 18513 - 18330 / 5560 - 5500 may act as support for the day," said Angel Broking note.
BSE Midcap Index was down 0.37 per cent and BSE Smallcap Index moved 0.31 per cent lower.
Amongst sectoral indices, BSE Bankex moved 1.42 per cent lower, BSE Realty Index was down 1.36 per cent, BSE Metal Index declined 1.11 per cent and BSE Auto Index slipped 1.11 per cent. BSE FMCG Index was up 1.38 per cent, BSE Healthcare Index advanced 0.61 per cent and BSE Oil&gas Index moved 0.13 per cent.
Sesa Goa (-3.09%), Tata Motors (-2.95%), Kotak Bank (-2.29%), Grasim (-2.12%) and M&M (-2.01%) were the top Nifty losers.
Hindustan Unilever (3.38%), Reliance Capital (3.22%), SAIL (2.28%), Bajaj Auto (2.10%) and Sun Pharma (2.09%) were the major gainers.
Market breadth was negative on the NSE with 1519 declines against 1053 advances.
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