A positive opening in European markets failed to buoy Indian bourses as they continued to remain weak. The Sensex, after trading volatile for most part of the day, has slipped further to a low of 16,597 - down 111 points.
The Nifty is down 36 points at 4,952.
Hindalco has slumped 3.6% to Rs 138. Mahindra & Mahindra has shed 3% at Rs 1,021.
Jaiprakash Associates has dropped 3% to Rs 143.
Larsen & Toubro, Sterlite, Bharti Airtel and DLF have declined 2% each. Reliance Communications has slipped 1.5% to Rs 169.
Maruti Suzuki, ITC, Tata Steel, BHEL and Tata Motors are the other losers in teh market.
On the other hand, NTPC and TCS has managed to hold on to some of its gains and is now at Rs 209 and Rs 733, respectively.
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Reliance continues to top the value chart with a turnover of Rs 141.17 crore, followed by Tata Steel (Rs 87.85 crore), SBI (Rs 73.54 crore) and Unitech (Rs 72.88 crore).
The volume chart is being led by Austral Coke with trades of over 16.77 million shares, followed by Unitech (9.12 million), Dish TV (7.75 million) and Suzlon (5.67 million).