IMO it is because of FII selling. FIIs are pulling out hot money (which was responsible for relentless upmove in recent past) and moving it in China market.
Our markets will be in bear grip unless earnings pick up and FIIs turns net buyers.
If you see the FII data for last few weeks you would realize the same.
Bottom line, it will be very difficult for market to turn bullish till next quarterly results which needs to be good.