The benchmark Nifty reclaimed the 5000 mark in the opening trade following positive trend in SGX Nifty but took a U-turn soon after. Markets globally are waiting for a solution to European debt crisis but no unanimous decision could be arrived over terms of Greece's second bailout on Tuesday.
The 30-share BSE Sensex was trading at 16,499, down 25 points after 473 points rally yesterday. The 50-share NSE Nifty fell 6 points to 4,965.
In the largecap space, DLF, M&M, HUL, Sesa Goa, Bharti Airtel, Sterlite Industries, Reliance Infrastructure, Hindalco, L&T, Bajaj Auto, Reliance Power, BPCL, Reliance Industries, HUL, SAIL and ACC were witnessing selling pressure.
However, Cairn India rose 3% as ONGC issued NoC to Cairn-Vedanta deal. ONGC rose 0.8%.
Infosys, Wipro, HCL Tech, TCS, Reliance Capital, Reliance Communications and Tata Power were other gainers among largecaps.
About 373 shares advanced as against 451 shares declined on NSE. The CNX Midcap rose 18 points to 7,187.
JSW Steel fell 3% and Jet Airways was down 2%.
Shree Renuka Suguar, Balrampur Chini and Triveni Engg were down over 0.5%.
However, Hathway Cable, Hexaware Tech, Dabur, Titan Industries and Sintex were up 0.8-1.5%.
Vivimed Labs gained 3.5%.
Global cues
Asian markets were mixed in trade. Hang Seng was down 0.8% and Straits Times down 0.5%. However, Shanghai and Nikkei gained 0.20%. Kospi and Taiwan went up 0.4%.
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