The Sensex continued to trade in the negative terrain on the back of profit booking witnessed across select frontliners.

PSU, banking, power and real estate stocks declined, while auto, and consumer durables were in limelight.

Broader market indices fell further, with the BSE midcap index ruling 0.67% lower than its earlier closure, while the BSE smallcap index was down 0.48%.

Indian stock market, today, belled the session positively after gaining 1.47% against its previous working day. The 30-share index, BSE Sensex opened at 14,892.93, up
52.30 points.

Mr. Raj Majumder, CEO, iMetanoia Financial Services said, "The markets are likely to follow global cues and the rally may continue till the announcement of the budget."

Around 12:50 p. m., the benchmark index of the Bombay Stock Exchange (BSE), the Sensex gave up its morning's gains to rule at 14,693.06, down 147.57 points, against its previous close.

Similarly, the S&P CNX Nifty index of the National Stock Exchange (NSE) stood at 4,481.75 points, lower by 48.15 points, or 1.06%.

The market breadth was mixed, with 1,324 stocks advancing, 1,333 declining and 64 remaining unchanged.

Among gainers at this time on the Sensex were Grasim Industries, up 2.29%; Mahindra and Mahindra, up 2.11%; Tata Motors, up 1.35%; Tata Steel up 1.84%, and TCS was up by 0.99%.

Among the losers were Reliance Infrastructure, down 5.84%; Ranbaxy Laboratories, down 5.32%; JP Asso, down 3.91%; HDFC Bank, down 2.93%; NTPC, down 2.91%; Reliance Capital, down 2.75%.

Asian stocks surged after US economic data added to signs the global slump is slacking off and General Motors Corp's bankruptcy lifted confidence Asia's auto manufacturers will gain market share.

Japanese benchmark index Nikkei gained 26.56 points at 9,704.31, Hang Seng, a primary index of the Hong Kong stock exchange, was 440.85 points down at 18,444.85 points.

China`s Shanghai Composite gained 3.02 points, or 0.11%, to trade at 2,724.30. (12.58 p. m., IST).