Markets continue to languish, Sensex sheds 100 pts

Markets continue to languish in trades after a feble attempt at recovery. The Sensex was down 102 points at 17,601. Nifty was down 35 points at 5,291.

Global stock markets tumbled on Monday as renewed doubts about the euro zone's debt crisis plan last week put an abrupt end to their October rally.

The Dow Jones industrial average dropped 276.10 points, or 2.26%, to 11,955. In a sign that Europe's woes were far from over, Italian and Spanish bond yields soared, prompting the European Central Bank to buy the debt, while shares of European banks came under heavy selling pressure. Asian markets are trading weak this morning.

BSE capital goods, metal, bankex and FMCG indices continue to trade weak. Hoever the consumer durables index has gained 0.4% to 6,625.

Wipro is the biggest gainer among Sensex stocks, up around 1.6% at Rs 373. Sun Pharma is up 1.6% as well. Tata group of companies -  Tata Motors, Tata Power and Tata Consultancy Services have advanced 0.5-1.5% each.

On the other hand, Sterlite, Jindal Steel, Tata Steel are the major metal losers.

Reliance dropped 0.5% to Rs 873 after RIL put speculations to rest after denying reports of acquiring US-based Valero Energy Corp.

ICICI Bank dropped 2.5% to Rs 908 after reporting numbers yesterday. Cipla and Larsen & Toubro are down 2% each. Maruti Suzuki reported a 53% decline in its total sales for the month of October. Maruti sold 55,595 units in October 2011 as

compared to 118,908 units in October 2010. The stock was down 0.6% at Rs 1,118.

The BSE market breadth was marginally negative. Out of 2,335 stocks traded, 1,187 have declined while 1,032 have advanced.