Indian markets drifted lower in the afternoon session. The markets opened positive on Tuesday with support from energy and FMCG stocks. The market breadth was positive in the afternoon with 1250 advances and nearly 1200 declines.
BSE Sensex was up by just 50 points at 2.30 pm and NSE Nifty was in the green at 6706. Among major gainers in today's trade were ITC, Reliance, ONGC, Tata Steel and ICICI Bank. Among losers were Tata Power, Power Grid, Ambuja Cements and Hindalco.
The National Stock Exchange (NSE) is probing the recent unexpected falls of Tata Motors and UltraTech Cement shares, an official with direct knowledge of the matter revealed.
The block sales took place at much lower prices than the prices at which either company was trading at the time. The stocks crashed, with each shedding as much as 10 per cent. This sparked speculation of a freak trade.