The broader markets too gave up all of its early gains and were in red with the midcap index down 0.2% and the smallcap index down 0.04%.

IT index gained 0.8% on defensive buying and Power index up 0.2% were the only sectoral pockets in green.

The ones leading the laggards list were Realty, Oil & Gas and Metal indices down 1-1.5%.

Auto names like Bajaj Auto, Hero MotoCorp and Maruti Suzuki gained nearly a percent each and were the top Sensex gainers.

IT majors held on to their early gains and were up 0.4-1%.

BHEL, HUL, NTPC and SBI were some of the other gainers.

Metal names like Hindalco, Tata Steel which slipped upto 2% were among the top losers of the hour.

M&M lost ground by 1.3% after Credit Suisse downgraded the stock to "neutral" from "outperform" saying the company's valuations are no longer "attractive".

Bharti Airtel, L&T, ICICI Bank, ONGC and Coal India were some of the major laggards.

Sharda Corpchem which listed today on the NSE was trading at Rs 251, a 61% premium against its issue price of Rs 156 per share. The Rs 350-crore initial public offering (IPO) of agrochemical company Sharda Cropchem was subscribed around 60 times.

The market breadth turned negative on BSE. 1248 stocks declined while 1120 stocks advanced.