Markets remain weak

Consistent weakness continued to drag the markets to fresh day's low's, the Sensex was down 320 points at 19,370 and the S&P CNX Nifty was lower by 96 points at 5807 in early noon deals.

HDFC was the top loser among the Sensex stocks, the stock was trading at Rs 653 lower by 4.4%. HDFC Bank. Larsen & Toubro, BHEL and NTPC were also trading lower by more than 3% each.

Jindal Steel, Hero Honda, Wipro, Cipla, ICICI Bank and Bajaj Auto were the other major losers - down over 2% each.

However, Bharti Airtel, Infosys, Reliance Infrastructure, Sterlite Industries and State Bank of India bucked the trend.

Selling was seen across all the sectors as all the sectoral indices were trading in the red. The BSE Capital Goods index was the top sectoral loser, the index shed more than 3% or 469 points and was at 14,212 followed by Consumer Durables index (down 2.2% at 5975), Power(down 1.8% at 2874), Bankex (down 1.7% at 12,304) and PSU indices (down 1.6% at 8952).

Praj Industries was the top loser among the capital goods stocks the stock was trading lower by 4.2% at Rs 79 followed by Larsen & Toubro, BHEL, Alstom Projects, Usha Martin, Siemens and Suzlon Energy down more than 2% each. Bajaj Electricals, Whirlpool, Gitanjali Gems, Rajesh Exports, Titan Industries and VIP Industries were the top losers among the consumer durable stocks.

The broader markets also witnessed the intense selling pressure as the BSE mid-cap index lost 1.5% or 111 points at 7959 and the small-cap index was at 9188 down 1.8% or 174 points.

The overall market breadth was extremely negative as 2,061 stocks declined while 662 stocks advanced on the BSE.