However, Nifty index of National Stock Exchange slightly improved by 2.80 points at 3,953.55, from its previous end at 3,950.75 points. As trading resumed after yesterday's holiday, both the indices drifted low in the opening session. The Sensex has now further declined by 164.84 points at 12,890.83 points and nifty by 60.65 at 3,890.10 points. Brokers said the key benchmark indices edged lower in early trade tracking weakness in global markets. Asian stocks also dropped today on fears that the global economy will worsen, even if the US Congress passes a USD 700 billion bank rescue bill.
Key benchmark indices in Hong Kong, Japan, Singapore and Taiwan were down between 0.16 per cent and 2.23 per cent, which affected the domestic markets.
The BSE Mid-Cap index was down by 0.16 per cent at 4,816.38 and the BSE Small-Cap index slipped by 0.02 per cent at 5,605.78.
Reliance Industries fell 2.96 per cent at Rs 1,854.90, followed by Sterlite Industries, that was down by 5.69 per cent at Rs 404.95, Steel Authority of India by 3.81 per cent at Rs 118.70, National Aluminum Company by 2.34 per cent at Rs 360.95, Hindalco Industries by 0.91 per cent at Rs 97.65 and Hindustan Zinc drifted lower by 0.66 per cent at Rs 432.
Tata Consultancy Services was down by 3.61 per cent at Rs 646.75 per cent, Satyam Computer Services by 3.55 per cent at Rs 307.45, and Wipro declined by 2.23 per cent at Rs 342.
However, Ranbaxy Laboratories rose by 6.14 per cent at Rs 267.15, followed by Bharat Heavy Electricals, which surged by 1.57 per cent at Rs 1,618, ITC by 1.51 per cent at Rs 195.20 and HT Media rose by 0.61 per cent at Rs 107.