 "Markets remain weak, Banking shares dip further")
Markets continued to trade on a soft note in late-noon deals, owing to weak cues from global bourses. Weakness in banks and capital goods shares, along with volatility ahead of the F&O expiry took the Sensex to a low of 19,042. The index is now down 95 points at 19,075. Nifty is down 33 points at 5,800.
Meanwhile in Asia, Japan's Nikkei share average slipped on Tuesday as weak China manufacturing data heightened concerns over global growth, while investors cashed in some of the recent gains after the yen's slide towards 100 to the dollar stalled. The benchmark ended 0.3 percent lower at 13,529.65 after hitting its highest closing level since July 2008 on Monday after the Group of 20 leading economies stopped short of criticising Japan's aggressive monetary expansionary policies, which have significantly weakened the yen.
IT index rose 0.5% at 5788 on bargain hunting after recent fall. FMCG stocks edged marginally lower on profit booking after recent upmove triggered on reports of likely normal monsoon this year. Bankex slipped 1.5% at 14,186 in spite of hopes of a rate cut in the next Reserve Bank of India's Monetary Policy Review.
Index heavyweight Reliance Industries (RIL) extended intraday gains - up 1.3% at Rs 800 after the company's telecom arm and Bharti Airtel signed an agreement for international data connectivity. Bharti Airtel, however dipped 0.5% at Rs 299.
In its first overseas funding raising in nearly three years, Tata Steel has begun roadshows to raise $750 million in Singapore. Shares of Tata Steel is flat at Rs 307.
Meanwhile in Asia, Japan's Nikkei share average slipped on Tuesday as weak China manufacturing data heightened concerns over global growth, while investors cashed in some of the recent gains after the yen's slide towards 100 to the dollar stalled. The benchmark ended 0.3 percent lower at 13,529.65 after hitting its highest closing level since July 2008 on Monday after the Group of 20 leading economies stopped short of criticising Japan's aggressive monetary expansionary policies, which have significantly weakened the yen.
IT index rose 0.5% at 5788 on bargain hunting after recent fall. FMCG stocks edged marginally lower on profit booking after recent upmove triggered on reports of likely normal monsoon this year. Bankex slipped 1.5% at 14,186 in spite of hopes of a rate cut in the next Reserve Bank of India's Monetary Policy Review.
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Meanwhile, BSE mid-cap index slipped 0.6% at 6,266. Small-cap index held on to gains and traded unchanged at 6,034.
Index heavyweight Reliance Industries (RIL) extended intraday gains - up 1.3% at Rs 800 after the company's telecom arm and Bharti Airtel signed an agreement for international data connectivity. Bharti Airtel, however dipped 0.5% at Rs 299.
In its first overseas funding raising in nearly three years, Tata Steel has begun roadshows to raise $750 million in Singapore. Shares of Tata Steel is flat at Rs 307.