 "Markets turn weak after positive opening")
Benchmark indices have slipped into negative zone after making a marginally higher opening. By 9:30, the Sensex was lower by 56 points 20,156 mark and the Nifty dipped by 15 points at 5,986 levels.
Markets were expected to rebound in trades today on value buying at lower levels after the sharp decline in the previous sessions which pushed the benchmark indices to two-month lows.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1234.02 crore on Tuesday, as per provisional data from the stock exchanges.
The Standard & Poor's 500 fell nearly 3% over the previous two sessions, including Monday's slide, which was the worst drop for the benchmark index since June.
The selloffs were triggered by weaker-than-expected U.S. data, as well as concerns over growth in China and the outlook for some emerging economies.
Asian shares got a welcome reprieve from selling on Wednesday as Wall Street steadied and investors in emerging markets found some backbone, which took some of the starch out of safe-haven bonds and the yen.
Still, the gains were modest and dealers cautioned that the mood remained brittle and it would only take a poor US payrolls report on Friday to set the bears running again.
For now, the Nikkei managed to rally 1.5% to 14,221 after a couple of days of punishing selling. But it faces stiff resistance at the 200-day moving average of 14,425, while there is a large gap to fill between Monday's close and Tuesday's opening.
Back home, Bharat Heavy Electricals (BHEL), Ranbaxy Laboratories and Power Grid Corporation of India will announce Q3 results today.
On the sectoral front, BSE Oil & Gas and FMCG indices have plunged by nearly 1% each followed by counters like Banks, IT and Power, all declining marginally. However, BSE Capital Goods, Realty and Consumer Durables indices are trading marginally positive.
The main losers on the Sensex at this hour include ITC, NTPC, Tata Motors, RIL, ONGC, Wipro, Hindalco, Bajaj Auto and Infosys.
On the gaining side, M&M, Tata Steel, SBI, Tata Power and Axis Bank have gained between 0.3-1%.
Among other shares, Tech Mahindra has gained by 2.93% to Rs 1821.35 after consolidated profit after tax jumped 40.6% to Rs 1010 crore on 2.7% increase in revenue to Rs 4899 crore in Q3 December 2013 over Q2 September 2013.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.2-0.5%.
The market breadth in BSE remains positive with 637 shares advancing and 286 shares declining.
Markets were expected to rebound in trades today on value buying at lower levels after the sharp decline in the previous sessions which pushed the benchmark indices to two-month lows.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1234.02 crore on Tuesday, as per provisional data from the stock exchanges.
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On the global front, US stocks rebounded on Tuesday, buoyed by encouraging earnings, as the market attempted to steady in the wake of its largest selloff in months a day earlier.
The Standard & Poor's 500 fell nearly 3% over the previous two sessions, including Monday's slide, which was the worst drop for the benchmark index since June.
The selloffs were triggered by weaker-than-expected U.S. data, as well as concerns over growth in China and the outlook for some emerging economies.
Asian shares got a welcome reprieve from selling on Wednesday as Wall Street steadied and investors in emerging markets found some backbone, which took some of the starch out of safe-haven bonds and the yen.
Still, the gains were modest and dealers cautioned that the mood remained brittle and it would only take a poor US payrolls report on Friday to set the bears running again.
For now, the Nikkei managed to rally 1.5% to 14,221 after a couple of days of punishing selling. But it faces stiff resistance at the 200-day moving average of 14,425, while there is a large gap to fill between Monday's close and Tuesday's opening.
Back home, Bharat Heavy Electricals (BHEL), Ranbaxy Laboratories and Power Grid Corporation of India will announce Q3 results today.
On the sectoral front, BSE Oil & Gas and FMCG indices have plunged by nearly 1% each followed by counters like Banks, IT and Power, all declining marginally. However, BSE Capital Goods, Realty and Consumer Durables indices are trading marginally positive.
The main losers on the Sensex at this hour include ITC, NTPC, Tata Motors, RIL, ONGC, Wipro, Hindalco, Bajaj Auto and Infosys.
On the gaining side, M&M, Tata Steel, SBI, Tata Power and Axis Bank have gained between 0.3-1%.
Among other shares, Tech Mahindra has gained by 2.93% to Rs 1821.35 after consolidated profit after tax jumped 40.6% to Rs 1010 crore on 2.7% increase in revenue to Rs 4899 crore in Q3 December 2013 over Q2 September 2013.
The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices have gained between 0.2-0.5%.
The market breadth in BSE remains positive with 637 shares advancing and 286 shares declining.