MUMBAI: Benchmarks slipped below psychological support levels as profit booking intensified in technology, banks and metals stocks as inflation data dampened sentiments.

India's food price index rose 16.91 per cent, driven mainly by high vegetable prices, and the fuel price index climbed 11.53 per cent in the year to Jan. 1, government data on Thursday showed.

At 1 pm; National Stock Exchange’s Nifty was at 5791.45, down 71.80 points or 1.22 per cent. The broader index touched a high of 5857.35 and low of 5788.55 intraday.

Bombay Stock Exchange’s Sensex was at 19306.15, down 227.95 points or 1.17 per cent. The 30-share index touched a high of 19511.27 and low of 19304.94 in trade so far.

BSE Midcap Index was down 0.13 per cent and BSE Smallcap Index moved 0.43 per cent higher.

Infosys Technologies reported 14 per cent rise in net profit for quarter ended December, lagging market forecast as a firmer rupee and higher wage costs weighed on rising demand. Infosys reported net profit for the fiscal third-quarter ended December rose to Rs 17.8 billion ($396.4 million) from 15.6 billion a year ago.

Amongst the sectoral indices, BSE IT Index was down 2.51per cent, BSE Bankex fell 2.32 per cent and BSE Metal Index moved 0.85 per cent lower. BSE Capital Goods Index was down 0.08 per cent.

Infosys Technologies (-4.41%), SBI (-2.73%), PNB (-2.72%), SAIL (-2.60%) and ICICI Bank (-2.57%) were amongst the losers.

Ambuja Cement (2.88%), Tata Motors (1.31%), Reliance Communications (1.26%), ACC (1.23%), and ONGC (0.79%) were amongst the top gainers.