Markets continued to remain weak in the last hour of trade, the Sensex was lower by 162 points at 17,877 and the S&P CNX Nifty was lower by 51 points at 5344.
Most of the Asian markets ended the day in the red, Taiwan ended lower by 33 points at 9111, Seoul Composite lost 12 points to end at 2069, Starits Times ended marginally lower by 7 points at 3184, however Shanghai and Nikkei managed to end on a positive note. Hang Seng was also lower by 34 points at 23,519.
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(Updated at 12.30 Pm)
The markets continued to trade with a negative bias in the last one hour of trade, the Sensex had shed 160 points at 17,879 and the S&P CNX Nifty was at 5344 lower by 51 points.
ONGC was the top loser among the Sensex stocks the stock was trading at Rs 286 lower by 3.8%. Mahindra & Mahindra, Jaiprakash Associates, Tata Steel, Reliance Communication, ICICI Bank, Hero Honda, HDFC Bank and Reliance Infrastructure were also among the losers down 2-3.8% each. On the other hand Tata Power, Hindalco, Cipla, Bajaj Auto and HDFC were notable gainers on the charts.
The broader markets underperformed the benchmark indices, the BSE mid-cap index was lower by 1.6% or 109 points at 6590 and the small-cap index had shed 2% or 166 points at 8095. The BSE 500 market breadth indicated an extremely negative trend as 409 stocks declined while 88 stocks had advanced.
Den Network was the top loser among the mid-cap stocks, down 10.3% to Rs 126, followed by Jyothy Lab, BEML, Punj Lloyd, India Infoline, VA Tech Wabag, Jindal Saw and United Breweries Holdings lower by 6-8% each. On the small-cap charts UB Engineering, Allied Digital, Sujana Metal, Kabra Extrusions, Gokaldas Exports, Vipul and Cosmo Films were the top losers.
All the sectoral indices except IT and Teck were trading in the red. Consumer durable, realty and banking stocks witnessed heavy selling pressure, the BSE consumer durable index was lower by 2.4% or 142 points at 5684, Realty index was lower by 2.3% at 2183 and the BSE banking index- Bankex had shed 193 points or nearly 2% at 11,605. Oil & Gas, auto, metal and capital goods stocks also reeled under the selling pressure.
Whirlpool was the top loser among the consumer durable stocks followed by Videocon Industries, VIP Industries, Titan Industries, Gitanjali Gems and Blue Star. Among the Realty stock Unitech led the losers charts down 4.6% to Rs 42 followed by Sobha Developers, Indiabulls Real Estate, Sunteck Realty, Peninsula Land and HDIL. Among the banking stocks Axis Bank, Yes Bank, Bank of India, Canara Bank, ICICI Bank and HDFC Bank were the top losers.
The overall market breadth was extremely negative as 2032 stocks delined while 606 stocks advanced.
