The markets continued the downward move on back of selling visible across the sectors. The S&P CNX Nifty broke the crucial 5400 level. The S&P CNX Nifty had shed 53 points to 5392 and the Sensex was at 17,943 lower by 206 points.
Reliance Industries continued to witness the selling pressure after the company reported that the production of crude oil and natural gas could drop further, the stocks was trading at Rs 998 lower by 3.2%. HDFC, BHEL, Cipla, TCS, Wipro, Mahindra & Mahindra and Tata Mortors were also trading lower by 1-2% each. On the other hand Maruti Suzuki, Bajaj Auto, Tata Steel, Larsen & Toubro, Bharti Airtel, Hero Honda and Reliance Communication were among the notable gainers.
All the sectoral indices were trading lower barring the metal index, BSE Oil & Gas index remained the top loser, the index had shed 2.5% or 246 points to 9708, IT index lost 1.15% or 70 points to 6012. Realty, Power and Bankex indices were also lower by around 0.8% each. Meanwhile the Metal index was trading marginally higher, up 0.3% to 15,339.
Among the IT stocks Tech Mahindra was the top loser, the stock slipped 1.7% was trading at Rs 720 followed by Wipro, TCS, HCL Technologies, Infosys and Mphasis.
SAIL, Welspun Corp, JSW Steel, Bhushan Steel, Tata Steel and Hindustan Zinc were among the gainers on the metal charts.
The broader markets also slipped marginally into the red, the BSE mid-cap index was lower by 10 points to 6526 and the small-cap index lost 9 points to 7850.
The overall market breadth was negative as 1368 stocks advanced while 1031 stocks advanced.
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