Benchmark indices extended losses in morning, with the Sensex falling over 100 points, weighed by index heavyweights Reliance Industries, ITC and HDFC Bank.
The 30-share BSE Sensex was down 133.47 points at 29,287.93 and the 50-share NSE Nifty fell 45.85 points to 9,062.15.
The market breadth was balanced as about 1025 shares advanced against 1004 declining shares on the BSE.
Reliance Industries, ITC, Tata Steel, Lupin, Sun Pharma, Asian Paints and Tata Motors were down 1-2 percent followed by HDFC Bank whereas SBI and HUL were gainers.
Adrian Mowat of JPMorgan says India remains the highest net overweight market in emerging markets. Net overweights in India increased to 23 from 20 and the median fund overweight in India increased by 20 bps.
BUY CENTURY TEXTILES FUTURE ABOVE 1044 TG 1070, 1110 SL 1034,
BUY BEL FUTURE ABOVE 159 TG 159.75, 160.75, 163.25 SL 157.70,