The Sensex is quoting at 17440, higher by 18 points and the Nifty is flat at 5210.
(Updated at 1309pm)
The Sensex is near the day's low now at 17,346 - down 77 points. The Nifty is down 5,183 - down 28 points.
The BSE realty index has dropped 2% to 3,965. Bankex, auto and metal indices have declined around 1% each.
Mahindra & Mahindra has dropped 3.2% to Rs 1,153. Sterlite has shed 2.5% at Rs 876.
Unitech is down 2% at Rs 86. ICICI Bank, SBI, Suzlon, Jaiprakash Associates, Bharti Airtel, Hero Honda and HDFC Bank are down in the red.
TCS has gained 3% at Rs 774. Wipro and Infosys have added 2% each to Rs 709 and Rs 2,631, respectively. ACC is up 1.8% at Rs 915.
The BSE market breadth continues to be negative. Out of 2,869 stocks traded, 1,559 have declined while 1,230 have advanced.