The BSE Sensex opened flat with slightly negative bias. Selling was seen in Maruti Suzuki, Dr Reddys Labs, Kotak Mahindra Bank, and Hero Motocorp.
However, some buying was seen in BHEL, SAIL, Asian Paints, Kingfisher Airlines.
The Sensex was down 49.34 points or 0.29% at 17,229.51, and the Nifty was down 14.55 points or 0.28% at 5,228.15.
About 542 shares advanced, 472 shares declined, and 2,421 shares were unchanged.
Sudarshan Sukhani of s2analytics.com says, it is a difficult day for the market. "Bull case has been weakened by yesterdays performance. Don't take new positions. If there are long positions, they should be maintained, if we close higher today," he adds.
Refinerery Major Reliance Industries was trading quiet, before it results. It was trading at Rs 722.50, down Rs 5.25, or 0.72%
The government has approved 10.82% disinvestment in SAIL. The stock was trading at Rs 94.25, up Rs 0.95, or 1.02%.
Yesterday, the Cabinet approved to levy 21% import duty on