The stock market breadth is in favour of advances due to outperformance in broader markets. The Sensex is down 39.59 points at 19479.90 and the Nifty is down 16.30 points at 5905.10.

State-owned HMT shares fell 3 percent on profit booking. The stock had rallied 10 percent in previous session after media reports that the government is planning to sell properties of the company. Opto Circuits dropped more than 5 percent, continuing previous day’s fall further. It has touched a new 52-week low of Rs 27.80 today.

Among midcaps, Shipping Corporation topped the buying list, rising nearly 6 percent. GAIL has signed Memorandum of Understanding (MoU) with Shipping Corporation to transport 5.8 mtpa LNG from the US. GAIL siad Shipping Corporation would help company charter ships for US LNG.

Indian equities remained volatile amid marginal selling pressure, weighed down by private financials and FMCG stocks. But the market breadth is in favour of advances due to outperformance in broader markets. The Sensex is down 39.59 points at 19479.90 and the Nifty is down 16.30 points at 5905.10.

About 781 shares have advanced while 440 shares declined on the Bombay Stock Exchange. Top car maker Maruti Suzuki shares dropped more than 2 percent whereas Dr Reddys Labs is the top gainer with 1.7 percent gains. Shares of ITC , ICICI Bank , HDFC and Larsen & Toubro slipped more than 0.7 percent. But Reliance Industries , TCS and State Bank of India rose 0.5 percent.