The breadth of the market favoured the declines with 628 stocks advancing and 1,092 declining while 357 remained unchanged. On the BSE, 1058 stocks advanced, 1556 declined and 152 remained unchanged.
The benchmark stock market has managed to stay in the positive territory with Nifty up 25 points, trading at 11,326, and Sensex gaining 167 points, trading at 37,703.
Bank Nifty extended the early gains, up over 1 percent led by IndusInd Bank that jumped 4 percent followed by HDFC Bank that was up 2 percent. The other gainers were YES Bank, State Bank of India and ICICI Bank.
From the PSU banking space, the top gainers were J&K Bank, Canara Bank, Syndicate Bank and Bank of Baroda.
Selective real estate stocks were also buzzing led by DLF, Indiabulls Real Estate, Prestige Estates and Sunteck Realty.
Nifty PSE was down 1 percent dragged by Coal India, NALCO, NTPC, Oil India, ONGC and SAIL.
From the auto space, the top losers were Bosch, Motherson Sumi Systems, Maruti Suzuki, Tata Motors and Tata Motors DVR.
Metals stocks were also trading in the red dragged by SAIL, down 4 percent while Vedanta, Tata Steel, NALCO, Jindal Stainless, JSPL, JSW Steel, Coal India and Hindustan Copper were the other losers.
Media stocks also traded lower as Zee Entertainment, Dish TV, EROS International Media, Jagran Prakashan, Network18, PVR, Sun TV Network and TV Today fell in day's trade.
From the midcap space, the top losers were KIOCL, SAIL, Kansai Nerolac, Apollo Hospitals and NALCO while the top gainers were Container Corporation, GE T&D, Bharat Forge and AU Small Finance Bank.
The top gainers from NSE included IndusInd Bank, YES Bank, HDFC Bank, HPCL and Bajaj Finance while the top losers included Bharti Airtel, IOC, Zee Entertainment, Vedanta and Indiabulls Housing Finance.
The most active stocks were Reliance Industries, HDFC Bank, YES Bank, IndusInd Bank and Infosys.
Reliance Industries, Axis Bank, Bajaj Holdings, Havells India, Info Edge, Godfrey Phillips, UPL and The Indian Hotels have hit 52-week high on NSE in the afternoon session.
The breadth of the market favoured the declines with 628 stocks advancing and 1,092 declining while 357 remained unchanged. On the BSE, 1058 stocks advanced, 1,556 declined and 152 remained unchanged.Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.