Among the broader indices, the BSE Midcap Index slipped 1.7 per cent and the Smallcap Index down 2.1 per cent.
Except FMCG, all sectoral indices were in red. Relecom, metal, realty, banking and auto stocks weighed on the maekets.
Bharati Airtel plunged 8 per cent and Grasim slipped 7 per cent to become the biggest losers of the day.
4: 37 PM
Sell off continues; Bharti Airtel slips 8 pc
Selling in heavyweights like Bharti Airtel, Reliance Industries, ONGC, SBI, Infosys, ICICI Bank, TCS, NTPC and DLF continues to put pressure on Nifty. At 1: 17 pm, Nifty declined 54 points, to 5,029 and the Sensex was down 176 points, to 16,957. The BSE Midcap and Smallcap indices slipped over 0.5 per cent.
However, uptrend in pharma, FMCG and select capital goods stocks was helping the markets.
Trading below Rs 400, Bharti Airtel dipped over 8 per cent. Following ews of cement business demerger Grasim was down over 5 per cent.
Among the sectors, BSE TECk tanked 2.4 per cent, Realty, Bank, Oil & Gas, Auto and Metal indices fell 1 to 1.6 per cent.
However, FMCG Index gained 1.3 per cent.
2: 40 PM
Mkts in red; RIL, ONGC, SBI, NTPC, DLF dip
At 12: 30 pm, BSE Sensex was at 16,966.10, down 168.45 and NSE Nifty was 5032.25, down 51.15 .
Sell off in Reliance Industries, ONGC, Bharti, SBI, NTPC, DLF, ICICI Bank, Reliance Communication, Grasim and Maruti were weighing on Nifty.
However, the losses were marginally capped by the buying in pharma and technology and stocks like ITC & Jindal Steel capped the losses to some extent.
Among the midcaps, Jet Airways was up 7.45 and Kingfisher Airlines up 4.49 per cent. Mphasis, Bajaj Finserv and Videocon Industries gained 3 to 4 per cent. However, 3M India, Torrent Power, Exide Industries, Gujarat NRE Coke and Andhra Bank fell 2.5 to 3 per cent.
In the smallcap arena, Andhra Cement jumped 13 per cent. JSL, Adhunik Metalik, Dhanuka Agritec and Bhagyanagar Ind went up 6 to 7.5 pc. However, Money Matters, 3i Infotech, KGN Industries, Lloyds Metals and Ruchinfra slipped 5 per cent each.
12: 48 PM
Mkts open -ve on weak global cues; auto, IT down
Led by weak global cues, the Indian markets started the week on a weak note. However, at 9:56 am, the NSE Nifty was up 48 points to 5,035 and the BSE Sensex was up 142 points at 16,992.
Banking, auto, realty, oil & gas exploration and technology shares were under pressure.
The losers among the frontliners were, ICICI Bank, Sterlite Industries, ACC, Cipla (QIP shares listed today), Maruti Suzuki, Infosys, ONGC and TCS, while Ambuja Cements, HDFC and BHEL were marginally higher. Bharti and Reliance Industries were trading flat.
The US markets were down 4 pc due to disappointing jobs report. The Asian markets too were trading lower.
10: 23 AM