The Sensex is exhibiting lacklustre movement and is now down 163 points at 8,283. Earlier in the day, the index opened 89 points higher at 8,535 but could not hold gains for long.
The BSE FMCG index has dropped over 3% (63 points) to 1,887.
Ranbaxy has slumped over 9% to Rs 144. Hindustan Unilever has tumbled 4.5% to Rs 230.
Tata Power and Reliance have shed around 4% each at Rs 646 and Rs 1,163, respectively.
ITC has dropped over 3% to Rs 168. NTPC, Bharti Airtel, Reliance Infrastructure and Tata Steel have slipped around 2.5% each to Rs 175, Rs 586, Rs 447 and Rs 153, respectively.
ICICI Bank and Jaiprakash Associates have declined 2.3% each to Rs 278 and Rs 64, respectively.
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Sun Pharma has surged 2.6% to Rs 1,002. Sterlite has gained 2.3% at Rs 251. TCS has added 1.3% to Rs 467.
The market breadth is fairly negative - out of 2,239 stocks traded so far, 1,364 have declined, 780 have advanced and the rest are unchanged.