 "Sensex, Nifty at a two week low; Tata Power down 6%")
Markets intensified their downward spiral in noon deals as profit booking in index heavyweights like ICICI Bank, Reliance Industries, L&T and ITC weighed on the indices.
At 1300 hrs, the Sensex was down 151 points at 20,736 and the Nifty gave off 47 points to trade at 6,174, which is a two week low.
In the broader markets, the smallcap index was down 0.6% and the midcap index lost 0.4%, almost in line with the BSE benchmark index.
At 1300 hrs, the rupee was trading at Rs 62.51, a one month low, compared with previous close of Rs 62.26 per dollar.
On the sectoral front, barring IT index which was up 1%, all the other indices were in the negative.
Capital Goods, Power, Metal and Auto indices down 1-2% were the top losers.
It heavyweights like TCS, Infosys and Wipro, up 0.3-2.7% were the few gainers among Sensex-30.
Hero MotoCorp, Maruti Suzuki, HDFC Bank and Bharti Airtel up 0.4-0.9% were the only other gainers.
Tata Power down 6% was the top loser followed by Hindalco, L&T, Tata Steel, BHEL, NTPC and Coal India down 2-3%.
Auto majors Bajaj Auto, Mahindra & Mahindra and Tata Motors dropped 0.4-3.5% on account of disappointing December sales numbers.
Among the banks, Axis Bank, ICICI Bank and SBI slipped 1-2%.
RIL, ONGC and Gail India down 0.8-2% were the notable losers from the oil & Gas space.
The market breadth was negative. 1,386 stocks declined while 864 stocks advanced on the BSE.
At 1300 hrs, the Sensex was down 151 points at 20,736 and the Nifty gave off 47 points to trade at 6,174, which is a two week low.
In the broader markets, the smallcap index was down 0.6% and the midcap index lost 0.4%, almost in line with the BSE benchmark index.
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The rupee continues to trade weak due to dollar buying by importers and banks. The strengthening of the dollar globally is also a affecting the rupee.
At 1300 hrs, the rupee was trading at Rs 62.51, a one month low, compared with previous close of Rs 62.26 per dollar.
On the sectoral front, barring IT index which was up 1%, all the other indices were in the negative.
Capital Goods, Power, Metal and Auto indices down 1-2% were the top losers.
It heavyweights like TCS, Infosys and Wipro, up 0.3-2.7% were the few gainers among Sensex-30.
Hero MotoCorp, Maruti Suzuki, HDFC Bank and Bharti Airtel up 0.4-0.9% were the only other gainers.
Tata Power down 6% was the top loser followed by Hindalco, L&T, Tata Steel, BHEL, NTPC and Coal India down 2-3%.
Auto majors Bajaj Auto, Mahindra & Mahindra and Tata Motors dropped 0.4-3.5% on account of disappointing December sales numbers.
Among the banks, Axis Bank, ICICI Bank and SBI slipped 1-2%.
RIL, ONGC and Gail India down 0.8-2% were the notable losers from the oil & Gas space.
The market breadth was negative. 1,386 stocks declined while 864 stocks advanced on the BSE.