The Sensex has slipped further into the red and is now at 17,311, down 163 points from its previous close. The NSE Nifty is at 5,169, down 70 points from its previous close.
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(Updated at 1112hrs)
Markets have dropped to the day's low.
The Sensex extended losses and touched a low of 17,350. The index has recovered now and is down 85 points at 17,389.
The Nifty is down 28 points at 5,193.
Weakness can be seen in the BSE Bankex. The index has dropped over 1.2% to 10,076. The BSE capital goods, PSU and power indices have slipped narly 1% each.
ICICI Bank has dropped 2.3% to Rs 856. Larsen & Toubro and Sterlite have slipped 2% each to Rs 1,601 and Rs 837, respectively.
Tata Power has dipped 2% to Rs 1,391. HDFC, HDFC Bank and Tata Motors have also dropped in red.
On the other hand, Mahinda & Mahindra has gained 1.7% at Rs 1,166. Reliance Communications has moved up 1.4% to Rs 190.
TCS, Grasim and Sun Pharma have added around 1% each.
The BSE market breadth is negative. Out of 2,675 stocks traded, 1,575 stocks have advanced while 1,039 have declined.
