The markets are witnessing heavy selling in the last 15-20 odd minutes. The Sensex is now down nearly 200 points at 17,628. The NSE Nifty has plunged 53 points to 5,270.
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(Updated at 1330pm)
The markets have squandered the opportunity provided by a conducive global and domestic environment. Strength across the global bourses and the lower-than expected rise in inflation have failed to arrest the gradual decline through the day. The Sensex is now hovering around its intra-day lows of 17813, lower by eight points, and the Nifty is at 5325, up two points. The mid-cap and small-cap indices are, however, higher by about half a per cent each at 7088 and 9140 respectively.
Reliance Industries is the top loser on the BSE, having weakened by 1.1% at Rs 1107. SBI has shed 1.1% at Rs 2068 and ICICI Bank has lost 1% at Rs 932. L&T and HDFC are the other significant losers.
On the other hand, Reliance Infra has added 2.1% at Rs 1141, Jaiprakash Associates has gained 2% at Rs 152 and DLF is up 1.8% at Rs 341.
The market breadth is positive, out of 2,906 shares traded on the BSE, there are 1,634 advancing stocks as against 1146 declines.
