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The pan-European STOXX 600 index slipped 1.3% by 0813 GMT, with miners, travel & leisure and oil & gas posting losses between 1.4% and 3.2%.

A total of 329,603 shares changed hands on the counter till 02:09PM (IST).

“It has been four days since the election results are out and oil prices have not gone up for the retail public. That tells us that there is a quantum shift in the policy. We need to support consumption compared to the earlier model of infrastructure driven policy. The seminal shift is one of the best things that can happen to consumption and the market at this stage. ”

Market veteran Shyam Sekhar said movements of CEOs and their career changes tend to impact stock prices and that trend is only growing. He said investors are going to see this affecting valuation of companies more and more in days to come.

“If I had to choose between profitability and growth, I would choose profitability. One does not make money just by imagining you are going to make money. There has to be a system, a process. One has to have discipline and it has to be in the DNA of each and every employee in the company, especially the senior managers. ”

The Nifty Realty index closed 0.3 per cent down at 421.7.

"Most of the new age tech do not make any money and have not ever made any money. Nykaa seems to be the best of these companies. Amongs the IPOs of this season, Nykaa seems to be the best managed and the most likely franchise to build a great business over a five to 10 year period," says Saurabh Mukherjea

The stock quoted a 52-week high of Rs 5654.0 and a 52-week low of Rs 3145.0.

The Nikkei share average edged up 0.15% to end at 25,346,48, after opening the session down 0.35%.

Bajaj Finance, Angel One, SRF, Indus Towers, Aarti Industries and Rain Industries were some other stocks sending bullish signals.