Markets have extended losses and are now at the day's low. Sensex is down 190 points at 17,585.
Nifty is down 63 points at 5,271.
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(Updated at 1123 hrs)
Markets have slipped further on declining Asian stocks and selling pressure in RIL and banking stocks.
The Sensex is now down 131 points at 17,643. Earlier in the day, the index dropped to a low of 17,634.
Nifty is down 44 points at 5,289.
BSE metal, oil and bankex have dropped nearly 1% each in trades.
Reliance has dragged the markets by 21 points. The stock is down 1% at Rs 1,078.
Banking stocks have also contributed to the market's fall. HDFC Bank and ICICI Bank are down 1.3% each at Rs 1,925 and Rs 857, respectively. SBI is flat at Rs 2,304 after fixingits benchmark lending rate at 7.5%. This move came, following a Reserve Bank directive, a move that will end the practice of sub-prime loan to corporates.
HDFC has dropped 1.6% to Rs 2,911.
Reliance Infrastrcuture, ONGC, Jindal Steel and Jaiprakash Associates have slipped over 1% each.
Tata Steel, Reliance Communications, BHEL and Tata Motors are some of the major losers.
On the other hand, Sterlite has gained 1.5% at Rs 173. DLF has added 1% to Rs 295.
BSE market breadth is marginally positive. Out of 2,670 stocks traded, 1,440 have advanced while 1,144 have declined.