 "Markets languish as investors turn jittery")
Markets continue to trade in the red in line with the Asian peers as investors turned jittery by a radical bailout plan for Cyprus. At 1245 hrs, the Sensex was down 140 points at 19,287 and the Nifty slipped 39 points at 5,834.
In the broader markets, the smallcap index slipped in line with the BSE benchmark index, down 0.7% while there was some resilience in midcap space with the index down 0.3%.
In Asia, stocks and commodities fell sharply as investors were rattled by a radical bailout plan for Cyprus and piled into safer assets including the U.S. dollar, gold and sovereign debt.
The yen's rebound weighed on Japanese shares, with the Nikkei stock average slipping 1.9%.
Further souring the investment sentiment, Moody's today said that India's high food inflation is a negative for the country's sovereign ratings as it filters through the broader economy, with adverse consequences for growth and the large fiscal and current account deficits.
Among the sectoral indices, Metal, PSU, Auto, Realty, Oil & Gas and Power indices were the top draggers, losing 1-2%. Bankex, IT and Capital Goods down 0.1-0.7% were the other indices in red.
On the gaining side were FMCG, Consumer Durables and Health Care which gained 0.1-0.2%.
The gainers among the Sensex-30 stocks were Cipla, Hindustan Unilever and Sun Pharma up 0.5-1.5%. L&T and HDFC Bank were marginally positive.
Coal India down 5% was the top Sensex loser on a media report that the government was looking to accelerate a 10% stake sale in the world's largest coal miner.
Tata Power, Gail India, Maruti Suzuki, Sterlite, ICICI Bank, Tata Motors, Bharti Airtel, Mahindra & Mahindra, Dr Reddys Lab, Tata Steel, Bajaj Auto, ONGC and NTPC down 1-3% were the other prominent losers.
In other stocks, shares in sugar companies gained on sugar decontrol hopes. Bajaj Hindusthan, Shree Renuka Sugars and Balrampur Chini Mills gained 0.5-2% in noon deals.
The market breadth was negative. 1624 stocks declined while 927 stocks advanced on the BSE.
In the broader markets, the smallcap index slipped in line with the BSE benchmark index, down 0.7% while there was some resilience in midcap space with the index down 0.3%.
In Asia, stocks and commodities fell sharply as investors were rattled by a radical bailout plan for Cyprus and piled into safer assets including the U.S. dollar, gold and sovereign debt.
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The MSCI's broadest index of Asia-Pacific shares outside Japan slumped 1.8% to its lowest level since January 2. It was the steepest one-day fall since late July.
The yen's rebound weighed on Japanese shares, with the Nikkei stock average slipping 1.9%.
Further souring the investment sentiment, Moody's today said that India's high food inflation is a negative for the country's sovereign ratings as it filters through the broader economy, with adverse consequences for growth and the large fiscal and current account deficits.
Among the sectoral indices, Metal, PSU, Auto, Realty, Oil & Gas and Power indices were the top draggers, losing 1-2%. Bankex, IT and Capital Goods down 0.1-0.7% were the other indices in red.
On the gaining side were FMCG, Consumer Durables and Health Care which gained 0.1-0.2%.
The gainers among the Sensex-30 stocks were Cipla, Hindustan Unilever and Sun Pharma up 0.5-1.5%. L&T and HDFC Bank were marginally positive.
Coal India down 5% was the top Sensex loser on a media report that the government was looking to accelerate a 10% stake sale in the world's largest coal miner.
Tata Power, Gail India, Maruti Suzuki, Sterlite, ICICI Bank, Tata Motors, Bharti Airtel, Mahindra & Mahindra, Dr Reddys Lab, Tata Steel, Bajaj Auto, ONGC and NTPC down 1-3% were the other prominent losers.
In other stocks, shares in sugar companies gained on sugar decontrol hopes. Bajaj Hindusthan, Shree Renuka Sugars and Balrampur Chini Mills gained 0.5-2% in noon deals.
The market breadth was negative. 1624 stocks declined while 927 stocks advanced on the BSE.