 "Markets under pressure as heavyweights drag")
Markets continue to languish in red in early noon trades as profit taking in RIL, ONGC, M&M and TCS weighed on the indices.
At 1300 hrs, the Sensex was down 155 points at 24,561 and the nifty slipped 42 points to trade at 7,317 levels.
Broader markets too were under pressure with both the small and mid cap indices down 1% each after the recent outperformance.
Consumer Durables and Auto indices down 1% each were the other major pockets in red.
Meanwhile, defensive pockets were back in favour. IT and Health Care were the only indices in green with gains between 0.3-0.4%.
Infosys and Hindalco up 1.8% each were the top gainers among sensex-30.
Bajaj Auto, L&T, Wipro, HDFC Bank, Tata Steel, Hero MotoCorp, Maruti Suzuki and Dr Reddys Lab up 0.4-1.5% were the only other scrips in the gainers list.
Among the ones in red were Gail India, BHEL, M&M and ONGC down 2.5-6%.
The market breadth was negative on BSE. 1711 stocks declined while 994 stocks advanced.
In individual names, Orbit Corporation tanked 9% to Rs 19.80, extending its previous day’s 15% fall, after IFCI sold over three million shares in past one week through the open market.
Sonata Software rallied 14% to Rs 50.65, in an otherwise weak market, after reporting over three-fold jump in consolidated net profit at Rs 23.57 crore for the fourth quarter ended March 31, 2014 (Q4FY14). The small-sized IT consulting and services company had profit of Rs 6.97 crore in the same quarter year ago.
Asian Markets
Asian stocks eased slightly in a timid session on Tuesday, while the euro steadied but remained vulnerable after overnight comments from the European Central Bank chief heightened expectations of easing steps in the euro zone.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped about 0.2%, after opening higher, as investors locked in profits following its rise to a one-year high on Monday.
Much of the trading in Asia lacked energy reflecting the lack of directional clues as U.S. and UK markets were closed for holidays on Monday.
Japan's Nikkei stock average was a regional standout, adding about 0.2% after marking its highest intraday level since early April.
Investors kept a wary eye on Ukraine, which launched air strikes and a paratrooper assault against pro-Russian rebels who seized an airport on Monday.
At 1300 hrs, the Sensex was down 155 points at 24,561 and the nifty slipped 42 points to trade at 7,317 levels.
Broader markets too were under pressure with both the small and mid cap indices down 1% each after the recent outperformance.
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Oil & Gas, Power and Realty indices down 2% each were the top sectoral losers.
Consumer Durables and Auto indices down 1% each were the other major pockets in red.
Meanwhile, defensive pockets were back in favour. IT and Health Care were the only indices in green with gains between 0.3-0.4%.
Infosys and Hindalco up 1.8% each were the top gainers among sensex-30.
Bajaj Auto, L&T, Wipro, HDFC Bank, Tata Steel, Hero MotoCorp, Maruti Suzuki and Dr Reddys Lab up 0.4-1.5% were the only other scrips in the gainers list.
Among the ones in red were Gail India, BHEL, M&M and ONGC down 2.5-6%.
The market breadth was negative on BSE. 1711 stocks declined while 994 stocks advanced.
In individual names, Orbit Corporation tanked 9% to Rs 19.80, extending its previous day’s 15% fall, after IFCI sold over three million shares in past one week through the open market.
Sonata Software rallied 14% to Rs 50.65, in an otherwise weak market, after reporting over three-fold jump in consolidated net profit at Rs 23.57 crore for the fourth quarter ended March 31, 2014 (Q4FY14). The small-sized IT consulting and services company had profit of Rs 6.97 crore in the same quarter year ago.
Asian Markets
Asian stocks eased slightly in a timid session on Tuesday, while the euro steadied but remained vulnerable after overnight comments from the European Central Bank chief heightened expectations of easing steps in the euro zone.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped about 0.2%, after opening higher, as investors locked in profits following its rise to a one-year high on Monday.
Much of the trading in Asia lacked energy reflecting the lack of directional clues as U.S. and UK markets were closed for holidays on Monday.
Japan's Nikkei stock average was a regional standout, adding about 0.2% after marking its highest intraday level since early April.
Investors kept a wary eye on Ukraine, which launched air strikes and a paratrooper assault against pro-Russian rebels who seized an airport on Monday.