 "Markets near two-week lows; Nifty slips below 8,000")
Benchmark share indices were trading near their two-week lows in late trades on profit taking by institutional investors in oil, auto and financial shares. Further, selling by foreign funds in the previous session also weighed on market sentiment.
The 30-share Sensex was down 221 points at 26,595 and the 50-share Nifty was down 72 points at 7,970.
Foreign funds sold index futures worth Rs 1,394 crore and Rs 74.59 crore in the cash segment on Monday, as per provisional exchange data.
The Rupee is trading at 61.04 against the US dollar compared to Monday's close of 61.13 tracking Asian currencies which are trading mostly stronger versus the dollar.
Asian markets ended weak with Japanese shares ending their five-day winning streak on caution ahead of the US Federal Reserve policy meet later today. The Nikkei ended down 0.2% at 15,911.53. Shanghai Composite was the top loser in the region which ended down 1.9% as weak economic data continued to weigh on market sentiment. Hang Seng dropped 0.9% and Straits Times was trading 1.2% lower.
European markets were trading lower ahead of the US Fed meet and political cues from Scotland. CAC-40, DAX and FTSE-100 were down 0.4-0.6%.
Except for FMCG and IT all other sectoral indices were in the red. BSE Realty index was the top loser down 2.6% followed by Power, Consumer Durables, Oil and Gas indices among others.
Index heavyweight Reliance Industries was the top loser down 2% on profit taking.
ONGC and Coal India were down 1.6-2.3% each after the government announcement stake sale in both the state-owned companies.
Tata Motors was down nearly 3% after global wholesales in August 2014, including Jaguar Land Rover, stood at 73,524 units showing a declination of 10% from the corresponding month last year.
L&T was down 1.7% tracking weak industrial growth in July.
SBI, Axis Bank, HDFC Bank, ICICI Bank and HDFC were down 0.7-2% each after RBI Governor said that although the WPI has shrunk to a five-year low in August but there is no point in lowering interest rates to have inflation picking up again.
Market breadth was weak with 2,149 losers and 788 gainers on the BSE.
The 30-share Sensex was down 221 points at 26,595 and the 50-share Nifty was down 72 points at 7,970.
Foreign funds sold index futures worth Rs 1,394 crore and Rs 74.59 crore in the cash segment on Monday, as per provisional exchange data.
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However, the broader markets witnessed a sell-off after recent gains underperforming the benchmark indices. The BSE Mid-cap and Small-cap indices are down over 3% each. In the month to September 15, the small-cap and mid-cap index had gained 10% and 8%, respectively.
The Rupee is trading at 61.04 against the US dollar compared to Monday's close of 61.13 tracking Asian currencies which are trading mostly stronger versus the dollar.
Asian markets ended weak with Japanese shares ending their five-day winning streak on caution ahead of the US Federal Reserve policy meet later today. The Nikkei ended down 0.2% at 15,911.53. Shanghai Composite was the top loser in the region which ended down 1.9% as weak economic data continued to weigh on market sentiment. Hang Seng dropped 0.9% and Straits Times was trading 1.2% lower.
European markets were trading lower ahead of the US Fed meet and political cues from Scotland. CAC-40, DAX and FTSE-100 were down 0.4-0.6%.
Except for FMCG and IT all other sectoral indices were in the red. BSE Realty index was the top loser down 2.6% followed by Power, Consumer Durables, Oil and Gas indices among others.
Index heavyweight Reliance Industries was the top loser down 2% on profit taking.
ONGC and Coal India were down 1.6-2.3% each after the government announcement stake sale in both the state-owned companies.
Tata Motors was down nearly 3% after global wholesales in August 2014, including Jaguar Land Rover, stood at 73,524 units showing a declination of 10% from the corresponding month last year.
L&T was down 1.7% tracking weak industrial growth in July.
SBI, Axis Bank, HDFC Bank, ICICI Bank and HDFC were down 0.7-2% each after RBI Governor said that although the WPI has shrunk to a five-year low in August but there is no point in lowering interest rates to have inflation picking up again.
Market breadth was weak with 2,149 losers and 788 gainers on the BSE.