Benchmarks were off intraday lows as traders took positions near crucial support levels. However concerns of interest rate tightening kept the bulls under pressure. Most sectoral indices were in the red with metals, auto and IT stocks worst hit while banks edged modestly higher.
Bombay Stock Exchanges Sensex was at 20044.14, down 140.60 points or 0.70 per cent. The 30-share index touched a high of 20210.62 and low of 19951.48 in trade so far.
National Stock Exchanges Nifty bounced back from crucial support levels and was at 6003.70, down 44.55 points or 0.74 per cent. The broader index touched a high of 6051.20 and low of 5976.50 intraday.
BSE Midcap Index was down 0.93 per cent and BSE Smallcap Index moved 1.09 per cent lower.
Amongst the sectoral indices, BSE Metal Index was down 1.87 per cent, BSE Auto Index slipped 1.83 per cent and BSE IT Index declined 1.05 per cent. BSE Bankex was up 0.41 per cent.
Reliance Communications (2.54%), ICICI Bank (1.94%), Reliance Infrastructure (0.87%), Hero Honda (0.78%), and Cipla (0.69%) were amongst the top gainers.
Hindalco (-4.69%), M&M (-3.08%), Tata Motors (-2.88%), Bharti Airtel (-2.59%) and HDFC Bank (-1.63%) were amongst the losers.
Market breadth was negative on the BSE with 865 advances against 1902 declines.