 "Sensex slips below 20,000, down 330 points")
Markets extended weakness in noon trades on Monday and were down nearly 2% ahead of the September derivative contracts later this week.
India VIX, a key indicator of volatility is up 7.2% currently at 26.50.
At 12:55PM, the 30-share Sensex fell 333 points at 19,930 and the 50-share Nifty declined 112 points at 5,900 levels.
At 12:45PM the rupee was trading at Rs 62.54 compared with previous close of Rs 62.28 per dollar.
Currency dealers see the rupee weakening further this week and touch Rs 63 per dollar. Last month, the rupee had touched an all-time low of Rs 68.85 in intra-day trades due to month-end dollar demand.
Most Asian markets retreated except for China after better-than-expected Chinese manufacturing data for September.
Chinese factory output expanded for a second month in September. A preliminary HSBC Holdings Plc and Markit Economics’ purchasing managers index released today rose to 51.2 after jumping the most since 2010 to 50.1 in August.
Shanghai Composite was up 1.3%, while Hang Seng and Straits Times were down over 0.7% each.
Rate sensitive shares are leading the decline on worries that the central may continue to hike repo rates with Bankex down 4% followed by Realty, Capital Goods, Oil & Gas, FMCG and Auto indices
In the financial space, HDFC, ICICI Bank, SBI and HDFC Bank were the top losers down 3-5% each. FMCG majors ITC and Hindustan Unilever were down over 1.6% on concerns that rising inflation may continue to hurt consumer spends.
Other losers include, L&T, ONGC, Bharti Airtel and index heavyweight Reliance Industries.
However, IT exporters were marginally up on account of weakness in the rupee. IT majors earn most of their revenue from exports to the US.
Among other shares, Denso (India) has surged over 7% at Rs 135 after Denso Corporation which made an offer to delist shares of the company received maximum bids at a premium to floor price. The automotive component maker received cumulative bids for just over 60% of its offer size.
The broader markets were also weak with Mid-cap and Small-cap indices down between 0.5-1% on the BSE.
The market breadth was negative with 1,201 losers and 784 gainers on the BSE.
India VIX, a key indicator of volatility is up 7.2% currently at 26.50.
At 12:55PM, the 30-share Sensex fell 333 points at 19,930 and the 50-share Nifty declined 112 points at 5,900 levels.
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Further, the rupee continues to exhibit weakness due to month-end dollar demand from importers.
At 12:45PM the rupee was trading at Rs 62.54 compared with previous close of Rs 62.28 per dollar.
Currency dealers see the rupee weakening further this week and touch Rs 63 per dollar. Last month, the rupee had touched an all-time low of Rs 68.85 in intra-day trades due to month-end dollar demand.
Most Asian markets retreated except for China after better-than-expected Chinese manufacturing data for September.
Chinese factory output expanded for a second month in September. A preliminary HSBC Holdings Plc and Markit Economics’ purchasing managers index released today rose to 51.2 after jumping the most since 2010 to 50.1 in August.
Shanghai Composite was up 1.3%, while Hang Seng and Straits Times were down over 0.7% each.
Rate sensitive shares are leading the decline on worries that the central may continue to hike repo rates with Bankex down 4% followed by Realty, Capital Goods, Oil & Gas, FMCG and Auto indices
In the financial space, HDFC, ICICI Bank, SBI and HDFC Bank were the top losers down 3-5% each. FMCG majors ITC and Hindustan Unilever were down over 1.6% on concerns that rising inflation may continue to hurt consumer spends.
Other losers include, L&T, ONGC, Bharti Airtel and index heavyweight Reliance Industries.
However, IT exporters were marginally up on account of weakness in the rupee. IT majors earn most of their revenue from exports to the US.
Among other shares, Denso (India) has surged over 7% at Rs 135 after Denso Corporation which made an offer to delist shares of the company received maximum bids at a premium to floor price. The automotive component maker received cumulative bids for just over 60% of its offer size.
The broader markets were also weak with Mid-cap and Small-cap indices down between 0.5-1% on the BSE.
The market breadth was negative with 1,201 losers and 784 gainers on the BSE.