Sensex down by 70 points in late morning trade

The benchmark BSE Sensex slipped from initial gains, down by 70 points in a volatile trade due to lack of domestic and global cues.
Continued selling was seen in capital goods, metal, power, FMCG, auto and telecom sectors.
The market breadth indicating the overall health of the market was positive.
The BSE Sensex opened higher at 24,881.76 and moved in a range of 24,912.64 to 24,674.67 before quoting 24,703.18 at 1105 hours, down by 69.79 points or 0.28 per cent.
The NSE Nifty was also down by 24.60 points or 0.33 per cent to 7,511.20 at 1105 hours.
Major losers were, GAIL 3.17 per cent, ONGC 2.69 per cent, Tata Motors 1.93 per cent, BHEL 1.88 per cent, NTPC 1.71 per cent, Bajaj Auto 1.68 per cent, Bharti Airtel 1.62 per cent, Wipro 1.37 per cent, Asian Paint 1.23 per cent and ICICI Bank 1.23 per cent.

However, Reliance rose by 1.95 per cent, followed by Infosys 1.43 per cent and Maruti 1.18 per cent.

Meanwhile, Foreign portfolio investors sold shares worth Rs 1221.97 crore yesterday, as per provisional data.
In overseas market, Asian shares were trading lower. China's Shanghai Composite was down 1.85 per cent, Hang Seng by 1.14 per cent and Singapore 0.22 per cent.
US stocks rallied sharply yesterday, as a rebound in oil prices allowed the main indexes to claw back much of the steep fall seen in the previous session.