On Wednesday morning Indian equities retreated with modest loss amid volatility. Profit booking following weak Asian cues pulled the market lower after the rally, which was seen in the previous two sessions. The market shrugged off the upside of 3-4% in the US markets.
At 9:18 hours IST, the 30-share BSE Sensex was trading at 16,443, down 55 points and the 50-share NSE Nifty fell 19 points to 4,930.
ICICI Bank, Axis Bank, Reliance Industries, BHEL, Jaiprakash Associates, M&M, Maruti Suzuki, TCS, Tata Power, IDFC, NTPC, SAIL, Tata Steel, HUL, ITC and L&T were putting pressure on the market.
However, Cipla, Bajaj Auto, ONGC, DLF and Reliance Capital were only gainers on Nifty. Cipla and Lupin gained 1%.
Shriram EPC rose 9% as company tied up with an Israeli company for executing a Rs 640 crore order for providing EPC services, reports CNBC-TV18 quoting The Hindu Business Line.
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