Weakness in the financial services and information technology sectors weighed on the Nifty and the Sensex. For the Nifty, support is at 22,400 and resistance at 22,550
Benchmark indices hold gains of early trade. All sectoral indices were in the positive territory with Nifty Realty, Nifty Media, and Nifty Metal seeing the most gains.
Indices extended losses weighed by financial services, IT, and automobile stocks. Iinvestors also turned cautious ahead of domestic and US inflation reports due on March 12.
Investors refrained from placing any aggressive bets in the anticipation of the release of the US personal expenditures price index print, due on Thursday.