 "Markets come off day's lows; ICICI Bank down 2%")
Markets came off their day's lows in late trades on Monday amid renewed buying interest in Sun Pharma and ITC.
At 3PM, the 30-share Sensex was down 52 points at 22,307 after hitting an intra-day low of 22,197 and the 50-share Nifty was down 11 points at 6,683 after touching an intra-day low of 6,650.
NSE's volatility index, or the domestic equivalent of the VIX fear gauge, surged to 25.5, in intra-day trade to mark its highest in four months on rising fears of profit-booking after a recent rally as the world's largest democracy goes to polls, from today till May 12. The India VIX was currently up 10% at 24.95.
Asian markets were trading lower with Nikkei witnessing a sharp fall to end 1.7% lower on the back of a stronger yen and profit taking in biotech shares on Wall Street on Friday.
Among other markets in the region, Hang Seng was down 0.6% and Straits Times was down 0.6%. Meanwhile, China's stock markets were closed for trading today.
Consumer Durables index was the top loser among the sectoral indices on the BSE followed by Realty, Power, Healthcare, Capital Goods, Bankex among others.
ICICI Bank, Infosys and Reliance Industries were among the top Sensex losers along with BHEL and Dr Reddy's Labs.
BHEL was down 4% after after the company said net profit for the financial year 2013-14 (FY14) more than halved to Rs 3,228 crore on account of low volumes and challenges in the domestic power sector. The power equipment major had posted a net profit of Rs 6,615 crore in FY13.
Sun Pharma was the top Sensex gainer up 1.3% after it decided to acquire the troubled pharma company Ranbaxy Laboratories in a $3.2 billion all-share deal. Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical sharfor each Ranbaxy share they own.
In the broader market, the BSE Mid-cap index was down 0.6% and the Small-cap index was trading flat.
Market breadth was weak with 1,233 gainers and 1,186 losers on the BSE.
At 3PM, the 30-share Sensex was down 52 points at 22,307 after hitting an intra-day low of 22,197 and the 50-share Nifty was down 11 points at 6,683 after touching an intra-day low of 6,650.
NSE's volatility index, or the domestic equivalent of the VIX fear gauge, surged to 25.5, in intra-day trade to mark its highest in four months on rising fears of profit-booking after a recent rally as the world's largest democracy goes to polls, from today till May 12. The India VIX was currently up 10% at 24.95.
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On the political front, opposition Bharatiya Janata Party (BJP), widely tipped to form the next government, said in its election manifesto on Monday it would encourage foreign direct investment but appeared to close the door to global retailers eyeing the country.
Asian markets were trading lower with Nikkei witnessing a sharp fall to end 1.7% lower on the back of a stronger yen and profit taking in biotech shares on Wall Street on Friday.
Among other markets in the region, Hang Seng was down 0.6% and Straits Times was down 0.6%. Meanwhile, China's stock markets were closed for trading today.
Consumer Durables index was the top loser among the sectoral indices on the BSE followed by Realty, Power, Healthcare, Capital Goods, Bankex among others.
ICICI Bank, Infosys and Reliance Industries were among the top Sensex losers along with BHEL and Dr Reddy's Labs.
BHEL was down 4% after after the company said net profit for the financial year 2013-14 (FY14) more than halved to Rs 3,228 crore on account of low volumes and challenges in the domestic power sector. The power equipment major had posted a net profit of Rs 6,615 crore in FY13.
Sun Pharma was the top Sensex gainer up 1.3% after it decided to acquire the troubled pharma company Ranbaxy Laboratories in a $3.2 billion all-share deal. Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical sharfor each Ranbaxy share they own.
In the broader market, the BSE Mid-cap index was down 0.6% and the Small-cap index was trading flat.
Market breadth was weak with 1,233 gainers and 1,186 losers on the BSE.