 "Markets slip as selling in heavyweights weigh")
Markets have come off day lows in noon trades with the Sensex down 134 points at 18,639 and the Nifty gave off 47 points at 5,620. The ones weighing on the indices were Infosys, L&T, ONGC, SBI, ITC and HDFC Bank.
The broader markets reeled under selling pressure with both the mid and small cap indices losing 1.5-2% as compared to the 0.7% slide on the BSE benchmark index.
The rupee weakened, hovering near a record low hit last week, as worries about China's economic and financial stability hit global risk assets, while caution prevailed ahead of current account deficit data due this week.
Chinese shares dragged Asian bourses to a fresh 9-1/2-month low on Monday as investors worried about Beijing's economic and financial stability and markets scrambled to price in the Federal Reserve's plan to slow its stimulus drive later in 2013.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.8% to its lowest since early September, after posting its worst week since May 2012 with a drop of 4.5% last week. Most of the region's stock indexes are now well into oversold territory.
Hong Kong shares fell 2.4% and Shanghai shares plummeted 5.4%. The Shanghai financials sub-index was down 7.1%, headed for its worst single day loss since November 2008.
A weaker yen helped buoy Japan's Nikkei stock average in early trade, but the Nikkei surrendered gains and ended down 1.3% as investors remained skittish after last week's global market rout and the fresh tumble in Chinese stocks.
European stocks were seen consolidating after last week's losses, with London's FTSE and Frankfurt's DAX gaining 0.1% in opening trades. Paris's CAC-40 was down 0.1%.
Back home, all the sectoral indices were in the red with Realty, Consumer Durables, Capital Goods, PSU, Power, auto and Oil & Gas indices slipping 1-3.5%.
The only gainers among the Sensex-30 were Tata Power gaining over 1% along with Hindalco, ICICI Bank, Sun Pharma, HDFC and Jindal Steel gaining 0.4-0.8%.
The major losers in noon deals were BHEL, Gail India, Bajaj Auto, L&T, SBI, Sterlite, Hero MotoCorp, ONGC, Infosys and Coal India losing 2-3.2%.
Coal India, Cipla, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Wipro and Dr Reddys Lab down 1-1.7% were the other notable losers.
The market breadth was very negative on the BSE. 1,435 stocks declined while 549 stocks advanced.
The broader markets reeled under selling pressure with both the mid and small cap indices losing 1.5-2% as compared to the 0.7% slide on the BSE benchmark index.
The rupee weakened, hovering near a record low hit last week, as worries about China's economic and financial stability hit global risk assets, while caution prevailed ahead of current account deficit data due this week.
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The rupee was trading at 59.70 to the dollar, compared to its close of 59.27/28 on Friday.
Chinese shares dragged Asian bourses to a fresh 9-1/2-month low on Monday as investors worried about Beijing's economic and financial stability and markets scrambled to price in the Federal Reserve's plan to slow its stimulus drive later in 2013.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.8% to its lowest since early September, after posting its worst week since May 2012 with a drop of 4.5% last week. Most of the region's stock indexes are now well into oversold territory.
Hong Kong shares fell 2.4% and Shanghai shares plummeted 5.4%. The Shanghai financials sub-index was down 7.1%, headed for its worst single day loss since November 2008.
A weaker yen helped buoy Japan's Nikkei stock average in early trade, but the Nikkei surrendered gains and ended down 1.3% as investors remained skittish after last week's global market rout and the fresh tumble in Chinese stocks.
European stocks were seen consolidating after last week's losses, with London's FTSE and Frankfurt's DAX gaining 0.1% in opening trades. Paris's CAC-40 was down 0.1%.
Back home, all the sectoral indices were in the red with Realty, Consumer Durables, Capital Goods, PSU, Power, auto and Oil & Gas indices slipping 1-3.5%.
The only gainers among the Sensex-30 were Tata Power gaining over 1% along with Hindalco, ICICI Bank, Sun Pharma, HDFC and Jindal Steel gaining 0.4-0.8%.
The major losers in noon deals were BHEL, Gail India, Bajaj Auto, L&T, SBI, Sterlite, Hero MotoCorp, ONGC, Infosys and Coal India losing 2-3.2%.
Coal India, Cipla, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Wipro and Dr Reddys Lab down 1-1.7% were the other notable losers.
The market breadth was very negative on the BSE. 1,435 stocks declined while 549 stocks advanced.