The benchmark BSE Sensex slipped from its initial gains to trade lower by 23.27 points at 26,373.50 in late morning deals on selling in key frontline shares of IT, financials and energy sectors amid lower Asian cues.
Growing worries of forthcoming referendum in Britain which could see it exit European Union and latest domestic retail inflation accelerating to 5.76 per cent in May loomed over the sentiment.
Meanwhile, buying interest was seen in realty, utilities, healthcare, capital goods , auto and metal. Earlier, the 30-share index resumed higher at 26,482.27 and hovered between 26,485.45 and 26,325.27.
It was quoting 26,373.50 at 1100 hours, showing a loss of 23.27 points or 0.09 per cent. The NSE 50-share Nifty was trading modestly lower by 9.80 points or 0.12 per cent at 8,100.80. Major losers were HDFC 1.23 per cent, Bajaj Auto 0.97, Infosys 0.82 per cent, TCS 0.82 per cent and Hero MotoCorp 0.81 per cent.
Notable gainers were, Adani ports 2.47 per cents, Tata Motors 1.91 per cent, SBI 1.83 per cent, GAIL 1.48 per cent and Cipla 1.15 per cent. Meanwhile, Foreign Portfolio Investors bought shares worth net Rs 212.24 crore yesterday, as per provisional data.
Overseas, most Asian markets declined following a lower finish in the US stocks as investors looked ahead to central bank meetings in the US and Japan. US stocks declined yesterday, as investors turned jittery ahead of a Federal Reserve policy meeting and a looming vote on 23 June, on Britain’s membership in the European Union.