The BSE benchmark Sensex climbed higher on positive Asian cues in the opening trade but fell soon after as IT, oil & gas, financial, select metal, auto and FMCG stocks came under pressure. At 9:19 hours IST, the 30-share BSE Sensex was trading at 16,324, down 17 points and the 50-share NSE Nifty was trading 5 points lower at 4,893.
Among the stocks, Wipro, HCL Tech, M&M, Tata Motors, ICICI Bank, SBI, Tata Steel and GAIL were witnessing selling pressure.
However, Sesa Goa, SAIL, L&T, Reliance Power, Reliance Infrastructure, Reliance Communications, Siemens, DLF, Axis Bank, JSPL, ACC, Bajaj Auto, HUL, TCS and Infosys were supporting the market.
The CNX Midcap rose 31 points to 7,270. About 489 shares advanced while 429 shares declined on NSE.
GVK Power rallied 4% after its arm bought Siemens` 14% in Bangalore Airport SPV.
IVRCL and Punj Lloyd gained 0.5-1%.
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