Volatility rules, market enters negative zone

The market, in a sign of directionless trade, laid to waste a positive start by edging down 27 points and the Nifty failing to hold on to the 8,300 level scaled earlier.
Domestic investors continued with their buying activity supported by a firm Asian trend. IT, technology and realty counters saw profit-booking though.
The Sensex opened higher at 26,929.69 and moved in a range of 27,009 and 26,883.78 before trading at 26,851.67 at 1154 hours, down 26.57 points, or 0.10 per cent, from its last close.
The NSE 50-share Nifty also went down marginally by 9.25 points, or 0.11 per cent, at 8,264.55 at 1154 hours.

Notable losers were TCS 2.39 per cent, Infosys 2.33 per cent and Wipro 1.73 per cent.
Major gainers were ONGC 3.06 per cent, Dr Reddy's 2.12 per cent and GAIL 1.27 per cent.
Meanwhile, foreign funds sold shares worth Rs 86.88 crore yesterday, as per provisional data.
Overseas, most Asian markets were trading positive. In the US, the Nasdaq closed at a record yesterday as the broader stock market finished lower, dragged down by a steep slide in the financial sector and major retailers.