 "Key indices down 1.5%; Banks weigh")
Markets continue to trade in the negative territory on the back of continued selling in rate sensitives after the Reserve Bank of India further tightened liquidity late on Tuesday evening. At 1310 hrs, the Sensex was down 226 points at 20,076 and the Nifty slipped 90 points to trade at 5,988.
Selling in broader markets intensified in noon deals with both the mid and smallcap indices losing over 1.5% each.
In international markets, signs of a recovery in France and strong sales from tech giant Apple lifted European shares on Wednesday, offsetting the impact of disappointing Chinese factory data, which knocked oil and copper prices lower.
The better-than-expected data, likely to be reinforced by further PMI readings across the euro area due out later, lifted European shares by 0.2% in early trade.
But renewed worries about the outlook for China's vast manufacturing sector trimmed gains in Asian shares and hit oil and copper prices and currencies exposed to Chinese demand.
Back home, among the sectoral indices, IT and Teck were the only ones to trade in the green, gaining 0.9% each. Among the ones in the red, Bankex, Capital goods, Consumer Durables, Metal and Power indices gave off 1.5-4%.
The top gainers among the Sensex-30 were Bharti Airtel up over 2% followed by TCS, Cipla and Bajaj Auto gaining 1% each.
Wipro, Sun Pharma, Tata Motors, Gail India and Reliance Industries up 0.5-0.6% were the other gainers.
Among the ones in the red were ICICI Bank, Jindal Steel, Sterlite, L&T and HDFC Bank losing 3-4%.
Mahindra & Mahindra, SBI, HDFC, Maruti Suzuki, Hindalco, Tata Power and NTPC down 1.6-2.7% were the other major draggers.
The market breadth was very negative. 1,442 stocks declined while 561 stocks advanced on the BSE.
Meanwhile, bond yields surged after the RBI's intensified defence of the beleaguered rupee raised concerns about the cost to the economy if the attempted rescue failed.
The benchmark 10-year bond yield hit a 14-month high of 8.50%, up 33 basis points on the day and 95 basis points since the RBI's first round of measures on July 15.
The one-year overnight swap rate jumped to 9.30%, its highest since September 2008 when the collapse of Lehman Brothers was roiling global markets.continue to trade in the negative territory on the back of continued selling in rate sensitives after the Reserve Bank of India further tightened liquidity late on Tuesday evening. At 1310 hrs, the Sensex was down 226 points at 20,076 and the Nifty slipped 90 points to trade at 5,988.
Selling in broader markets intensified in noon deals with both the mid and smallcap indices losing over 1.5% each.
In international markets, signs of a recovery in France and strong sales from tech giant Apple lifted European shares on Wednesday, offsetting the impact of disappointing Chinese factory data, which knocked oil and copper prices lower.
Manufacturing activity across France hit a 17-month high in July according to the latest Purchasing Managers Index survey, pointing to an emerging recovery in the euro zone's second-biggest economy.
The better-than-expected data, likely to be reinforced by further PMI readings across the euro area due out later, lifted European shares by 0.2 percent in early trade.
But renewed worries about the outlook for China's vast manufacturing sector trimmed gains in Asian shares and hit oil and copper prices and currencies exposed to Chinese demand.
Back home, among the sectoral indices, IT and Teck were the only ones to trade in the green, gaining 0.9% each. Among the ones in the red, Bankex, Capital goods, Consumer Durables, Metal and Power indices gave off 1.5-4%.
The top gainers among the Sensex-30 were Bharti Airtel up over 2% followed by TCS, Cipla and Bajaj Auto gaining 1% each.
Wipro, Sun Pharma, Tata Motors, Gail India and Reliance Industries up 0.5-0.6% were the other gainers.
Among the ones in the red were ICICI Bank, Jindal Steel, Sterlite, L&T and HDFC Bank losing 3-4%.
Mahindra & Mahindra, SBI, HDFC, Maruti Suzuki, Hindalco, Tata Power and NTPC down 1.6-2.7% were the other major draggers.
The market breadth was very negative. 1,442 stocks declined while 561 stocks advanced on the BSE.
Meanwhile, bond yields surged after the RBI's intensified defence of the beleaguered rupee raised concerns about the cost to the economy if the attempted rescue failed.
The benchmark 10-year bond yield hit a 14-month high of 8.50 percent, up 33 basis points on the day and 95 basis points since the RBI's first round of measures on July 15.
The one-year overnight swap rate jumped to 9.30 percent, its highest since September 2008 when the collapse of Lehman Brothers was roiling global markets.
Selling in broader markets intensified in noon deals with both the mid and smallcap indices losing over 1.5% each.
In international markets, signs of a recovery in France and strong sales from tech giant Apple lifted European shares on Wednesday, offsetting the impact of disappointing Chinese factory data, which knocked oil and copper prices lower.
Also Read
Manufacturing activity across France hit a 17-month high in July according to the latest Purchasing Managers Index survey, pointing to an emerging recovery in the euro zone's second-biggest economy.
The better-than-expected data, likely to be reinforced by further PMI readings across the euro area due out later, lifted European shares by 0.2% in early trade.
But renewed worries about the outlook for China's vast manufacturing sector trimmed gains in Asian shares and hit oil and copper prices and currencies exposed to Chinese demand.
Back home, among the sectoral indices, IT and Teck were the only ones to trade in the green, gaining 0.9% each. Among the ones in the red, Bankex, Capital goods, Consumer Durables, Metal and Power indices gave off 1.5-4%.
The top gainers among the Sensex-30 were Bharti Airtel up over 2% followed by TCS, Cipla and Bajaj Auto gaining 1% each.
Wipro, Sun Pharma, Tata Motors, Gail India and Reliance Industries up 0.5-0.6% were the other gainers.
Among the ones in the red were ICICI Bank, Jindal Steel, Sterlite, L&T and HDFC Bank losing 3-4%.
Mahindra & Mahindra, SBI, HDFC, Maruti Suzuki, Hindalco, Tata Power and NTPC down 1.6-2.7% were the other major draggers.
The market breadth was very negative. 1,442 stocks declined while 561 stocks advanced on the BSE.
Meanwhile, bond yields surged after the RBI's intensified defence of the beleaguered rupee raised concerns about the cost to the economy if the attempted rescue failed.
The benchmark 10-year bond yield hit a 14-month high of 8.50%, up 33 basis points on the day and 95 basis points since the RBI's first round of measures on July 15.
The one-year overnight swap rate jumped to 9.30%, its highest since September 2008 when the collapse of Lehman Brothers was roiling global markets.continue to trade in the negative territory on the back of continued selling in rate sensitives after the Reserve Bank of India further tightened liquidity late on Tuesday evening. At 1310 hrs, the Sensex was down 226 points at 20,076 and the Nifty slipped 90 points to trade at 5,988.
Selling in broader markets intensified in noon deals with both the mid and smallcap indices losing over 1.5% each.
In international markets, signs of a recovery in France and strong sales from tech giant Apple lifted European shares on Wednesday, offsetting the impact of disappointing Chinese factory data, which knocked oil and copper prices lower.
Manufacturing activity across France hit a 17-month high in July according to the latest Purchasing Managers Index survey, pointing to an emerging recovery in the euro zone's second-biggest economy.
The better-than-expected data, likely to be reinforced by further PMI readings across the euro area due out later, lifted European shares by 0.2 percent in early trade.
But renewed worries about the outlook for China's vast manufacturing sector trimmed gains in Asian shares and hit oil and copper prices and currencies exposed to Chinese demand.
Back home, among the sectoral indices, IT and Teck were the only ones to trade in the green, gaining 0.9% each. Among the ones in the red, Bankex, Capital goods, Consumer Durables, Metal and Power indices gave off 1.5-4%.
The top gainers among the Sensex-30 were Bharti Airtel up over 2% followed by TCS, Cipla and Bajaj Auto gaining 1% each.
Wipro, Sun Pharma, Tata Motors, Gail India and Reliance Industries up 0.5-0.6% were the other gainers.
Among the ones in the red were ICICI Bank, Jindal Steel, Sterlite, L&T and HDFC Bank losing 3-4%.
Mahindra & Mahindra, SBI, HDFC, Maruti Suzuki, Hindalco, Tata Power and NTPC down 1.6-2.7% were the other major draggers.
The market breadth was very negative. 1,442 stocks declined while 561 stocks advanced on the BSE.
Meanwhile, bond yields surged after the RBI's intensified defence of the beleaguered rupee raised concerns about the cost to the economy if the attempted rescue failed.
The benchmark 10-year bond yield hit a 14-month high of 8.50 percent, up 33 basis points on the day and 95 basis points since the RBI's first round of measures on July 15.
The one-year overnight swap rate jumped to 9.30 percent, its highest since September 2008 when the collapse of Lehman Brothers was roiling global markets.