The markets continued to trade weak in late-morning trades with the BSE Sensex at 16,188, down 266 points and the Nifty at 4,863, down 81 points. Earlier in the day, the BSE benchmark index touched the day's low at 16,089 and a high at 16,256.
Among the sectoral indices, BSE Realty, Metal and Bankex indices are leading the losses, down nearly 3% each. JSW Steel, Jindal Steel & Power, Tata Steel and Hindustan Zinc, down 4-7% each, are the top gainers among the Metals stocks.
ICICI Bank, Yes Bank, Union Bank of India, HDFC Bank and Axis Bank, down 2-4% each, are the prominent losers from the Bankex space.
BSE Auto index is the only gainer at 8,527, up 0.3%.
Among the Sensex 30 stocks, DLF, Jindal Steel, Tata Steel, Hindalco Industries and ICICI Bank, down 3-4% each, are the top losers.
Mahindra & Mahindra, Coal India, Maruti Suzuki, Tata Motors, up nearly 1% each, are the prominent gainers among the stocks.
Maruti Suzuki has moved up nearly 1% at Rs 1,090 in morning trades, in an otherwise weak market, as full scale production from its Manesar plant is scheduled to today, ending a 33-day long standoff with the workers on Saturday.
Aomng other individual stocks, PVR has also bucked the trend and is up 1% at Rs 123 on plans to expand its bowling alley business. According to reports, the multiplex operator is likely to invest Rs 70-75 crore in three years to expand the operations of PVR BluO, which is the company's bowling alley line. It plans to open up alleys in Bangalore, Pune, Chennai and Mumbai.
Shares of Reliance-Anil Dhirubhai Ambani Group (R-ADAG) companies gained ground in trade today after witnessing a steep fall in the previous session on reports that the Central Bureau of Investigation (CBI) has given a clean chit to a group chairman Anil Ambani, in the structuring of different firms and transfer of funds relating to Swan Telecom, in 2G scam.
The overall market breadth is remarkably negative as 1,573 stocks have declined against 732 advancing ones, on the BSE.
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