The market erased all its gains to trade mildly lower in afternoon, with the Nifty struggling below the 10,800 levels as the BJP is away from its half-way mark, though it is likely to be emerging as the largest party in the Karnataka Assembly.
The 30-share BSE Sensex was down 47 points at 35,509.71 and the 50-share NSE Nifty fell 23.70 points to 10,782.90.
The market breadth remained in favour of declines. About 1,567 shares declined against 949 advancing shares on the BSE.
Tata Motors was the biggest loser among Nifty50 stocks, falling more than 4 percent followed by Reliance Industries, ITC, SBI, ICICI Bank, L&T and IOC.
The Nifty Midcap index extended losses, falling 1.4 percent.
Missed call
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