The Sensex is now at 16,291, down 201 points, and the Nifty is at 2865, down 66 points.
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(Updated at 1330pm)
The markets continue to trade weak this afternoon, with the realty, metal and IT sectors being the major culprits. The Sensex is down 154 points at 16,341 and the Nifty is lower by 48 points at 4,883.
Hindalco has weakened by 3.6% at Rs 150, Tata Motors has shed 2.8% at Rs 701 and HDFC has slipped 2.7% at Rs 2441. Jaiprakash Associates, Sterlite and Tata Steel are the other major losers.
On the other hand, ONGC has strengthened by 0.6% at Rs 1140 and ITC has added 0.5% at Rs 254.
The market breadth has turned negative. Out of 2,772 stocks traded on the BSE, there are 1,239 advancing stocks as against 1,454 declines.