Markets witness subdued trades
After yesterday's gains, the markets started off in the red with the Sensex down 98 points at 17,159 and the Nifty lost 33 points at 5,210.
In the international markets,Dow Jones industrial average and the S&P 500 index ended down 0.3% each at 13,198 and 1,412 levels, respectively.
Asian shares drifted lower on Wednesday as investors waited for more clues on the state of the US economy, after hopes for further stimulus from the US Federal Reserve strengthened risk appetite. Japan's Nikkei share average opened down 1%, reversing from a 2.4 % jump on Tuesday.
Back home, the Nifty is likely to seek support around 5,205-5,185,while it can face resistance around 5,280-5,300, analysts suggest.
On the sectoral front, all the sectoral indices are in the red, except for BSE Healthcare and FMCG, up marginally.
BSE Consumer Durables, Realty, Bankex, Metal and Auto indices are leading the losses, down 1-2% each.
Titan Industries, Gitanjali Gems, VIP Industries and Videocon Industries, down 1-3% each, are the notable losers from the Consumer Durables' space.
Axis Bank, SBI, Punjab National Bank and Bank of India, down 1-2% each, are the prominent losers from among the financials.
Sterlite Industries has shed 3% at Rs 109 and is the top loser on the Sensex. Hindalco Industries, SBI, DLF and ONGC, down 1-2% each, are the other prominent losers. The gainers from the pack are Sun Pharma Industries, Coal India, Cipla, ITC and Tata Power, up marginally.
Among individual stocks, IVRCL has rallied 7% to Rs 64.40 on opening trades after the company said that Essar Group has bought additional 5.31% stake in the company through open market purchase.
The overall market breadth is negative as 756 stocks have declined against 560 advancing ones, on the BSE.