After a gap up opening, markets have erased their early gains on account of profit booking. The selling pressure on the index heavyweights such as Tata Motors, Axis Bank, ITC has dragged the markets lower.

At 11:30 am, the S&P BSE Sensex was down by 5 points at 25,488 and the Nifty50 gained 4 points at 7,754.

Shares of automobile companies have extended losses in Monday morning trades and are trading lower after the National Green Tribunal (NGT) on Friday has ordered immediate ban on registration of diesel-run cars in the national capital. The order further states that there won’t be any renewal of registration of vehicles that are older than 10 years in Delhi.

Among individual stocks, Tata Motors has skid over 3% to Rs 366, M&M has slipped nearly 2% to Rs 1,238, Ashok Leyland has dropped 0.7% to Rs 85, and Eicher Motors has lost 2.4% to Rs 15,187 on the Bombay Stock Exchange.

Software major Tata Consultancy Services (TCS) emerged as the biggest wealth creator in the past five years, while MMTC and Reliance Industries topped the list of companies where investors lost the most, says a study.

According to wealth creation study conducted by financial services company Motilal Oswal, TCS created wealth worth Rs 3,458 billion for the period 2010-15, followed by ITC (Rs 1,565 billion) and HDFC Bank (Rs 1,540 billion).

Tata Motors, India's fifth largest maker of passenger vehicles, has stopped producing the Manza sedan and the Vista hatchback.

With this, Tata Motors has exited its ageing portfolio of cars. The Indica and Indigo are available for commercial use only. The company phased out the older generation Nano late last year.

Tata group is banking on winning the Rs 60,000-crore project to design and build a Fighting Infantry Combat Vehicle (FICV) under Make in India in Defence to bring more than a dozen group companies together. Tata Motors is one of the ten contenders — L&T, Tata Power (SED), Tata Motors, Mahindra & Mahindra, Bharat Forge, Pipavav Defence, Rolta India, Punj Lloyd, Titagarh Wagons, and the Ordnance Factory Board (OFB) — for the FICV programme, who have been issued an expression of interest (EOI) by the defence ministry.

These firms have been asked to submit proposals by January 15, 2016 to build the FICV, a tracked, armoured battle-taxi, which will be operated by three crewmembers and carry eight combat soldiers into battle. As per the EoI, the FICV must be air-portable by IL-76 and C-17 aircraft, and fire anti-tank guided missiles up to 4,000 metres.

Markets continue to maintain weak trend tracking weak global cues along with selling pressure among rate-sensitive and FMCG sectors leading the fall.

Global markets across the global witnessed negative activity after the much awaited European Central Bank (ECB) stimulus failed to meet the street expectations.

Shares of automobile companies are in focus with the Bombay Stock Exchange (BSE) S&P BSE Auto index hitting a three-month high ahead of Ashok Leyland, Maruti Suzuki India and Tata Motors inclusion in the MSCI India index. The changes will be implemented as of the close of November 30, 2015.

Tata Motors, Maruti Suzuki India, Ashok Leyland and Bajaj Auto were up 2% each, while Mahindra & Mahindra up 1% on the BSE in late morning deals.

The BSE Sensex and NSE Nifty snapped two day losing streak on Thursday and closed 182.89 points and 52.20 points up at 25,958.63 and 7,883.80, respectively. Benchmark indices rose on hopes that the Parliament would consider a key reform on goods and services tax (GST) and some short coverings also uplift market mood on the last day of F&O expiry.

In the 50-share index, Tata Motors, Sun Pharma, Idea Cellular, GAIL and Reliance Industries gained between 2.35 per cent and 5.50 per cent.

Amid a slowing market for light commercial vehicles (LCVs), Mahindra & Mahindra (M&M) has managed to go past Tata Motors and take the top position. While the domestic LCV market has shrunk over five per cent this year, M&M has been able to gain market share. Tata Motors, earlier the market leader, has taken deep cuts, especially in the goods carrier LCV segment.

Car sales surged 21.8 per cent in October, 12th consecutive month of growth, as robust festive season purchases brought much needed cheer to the auto industry.

According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,94,158 units as compared to 1,59,408 units in the same month of 2014.

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