At 9:55 am, Sensex was at 80,123, down 228 points or 0.28 per cent and Nifty was at 24,378, down 58 points or 0.24 per cent.
Banking shares are leading the decline. Nifty Bank is down 261 points or 0.50 per cent at 52,307.
M&M, SBI, Kotak Mahindra Bank, HCL Tech, TCS, JSW Steel, Axis Bank and Reliance are the top gainers in the Sensex pack. Maruti Suzuki, NTPC, Titan, Bharti Airtel, Bajaj Finance and Tata Steel are the top gainers.
The Nifty Midcap 100 index is down 85 points or 0.17 per cent at 56,976 and the Nifty Smallcap 100 index is down 68 points or 0.36 per cent at 18,888.
Among sectoral indices, FMCG, realty, energy and infra are in green, and auto, IT, PSU banks and pharma are in red.
"Nifty has given a strong breakout above 24,400 levels and closed at all-time high. Now, lower levels of 24,250-24,300 will act as a strong support," said Deven Mehta, Research Analyst at Choice Broking.
"Traders holding long positions should remain firm with trailing stop loss of 24,250 on closing basis. Fresh long positions should be entered on downside with the mentioned stop loss," he said.
Banking shares are leading the decline. Nifty Bank is down 261 points or 0.50 per cent at 52,307.
M&M, SBI, Kotak Mahindra Bank, HCL Tech, TCS, JSW Steel, Axis Bank and Reliance are the top gainers in the Sensex pack. Maruti Suzuki, NTPC, Titan, Bharti Airtel, Bajaj Finance and Tata Steel are the top gainers.
The Nifty Midcap 100 index is down 85 points or 0.17 per cent at 56,976 and the Nifty Smallcap 100 index is down 68 points or 0.36 per cent at 18,888.
Among sectoral indices, FMCG, realty, energy and infra are in green, and auto, IT, PSU banks and pharma are in red.
"Nifty has given a strong breakout above 24,400 levels and closed at all-time high. Now, lower levels of 24,250-24,300 will act as a strong support," said Deven Mehta, Research Analyst at Choice Broking.
"Traders holding long positions should remain firm with trailing stop loss of 24,250 on closing basis. Fresh long positions should be entered on downside with the mentioned stop loss," he said.
