The 30-share BSE Sensex closed at 16,601.20, down 118.63 points or 0.71 pc, after seeing an intraday range of 16,577.78-16,750.99.
The 50-share NSE Nifty fell 0.7 pc or 35.10 points, to settle at 4,952.60, after hitting an intraday low of 4,943.95.
The BSE Capital Goods, Metal, Realty and Auto indices declined 1.2-1.6 pc. Capital goods was the major losing sector; L&T fell 2.38 pc. BHEL, ABB and Punj Lloyd were down over 1 pc. Siemens was down 0.27 pc.
Among the largecaps, Reliance Industries, TCS, NTPC, Wipro, Cairn, ICICI Bank and Idea Cellular were the only gainers. Overall, the markets witnessed consolidation in today's trade as well.
Nifty trading weak; RIL, Axis bank dip
At 01:13 pm, the Nifty remained choppy in trade and was hovering around its previous closing value.
The 30-share BSE Sensex was trading at 16,663, down 56 points and the Nifty was at 4,971, down 17 points.
The broader indices were outperforming the benchmark indices, up 0.4-0.7 pc. About 726 shares advanced while 508 shares declined on the NSE.
The sell-off continued in capital goods, realty, cement, select telecom and metal stocks while buying was seen in Reliance Industries, TCS, Wipro, NTPC, SAIL, Idea Cellular, Tata Steel, HUL and Ranbaxy Labs.
In the largecaps, Jaiprakash Associates, Hindalco, Bharti Airtel, L&T, M&M and BHEL gaiend 2-3 pc. However Reliance Industries, Sun Pharma, NTPC, Cairn India and Axis Bank fell 0.4-0.8 pc.
In the midcap space, Ackruti City, Rei Agro, Jagran Prakashan, Nava Bharat and Apollo Hospital went up 4.3-9.7 pc while State Bank Mysore, Simplex Infra, Asian Star, Central Bank and HMT declined 2-3 pc.
Mkts choppy with negative bias; RIL, L&T dip
At 10:47 am, the Nifty was trading marginally lower amid volatility. Heavyweights like Reliance Industries, BHEL, L&T, ICICI Bank, Bharti Airtel and ITC were seeing selling pressure.
The 30-share BSE Sensex was trading at 16,653, down 66 points and the Nifty was at 4,965, down 22 points.
The market breadth was mixed; about 1,474 shares advanced while 1,384 shares declined on the BSE. Nearly 580 shares were unchanged.
On the sectoral front, the selling was seen in capital goods, banking, FMCG, realty, select auto, power and cement stocks while buying continued in Wipro, TCS, ONGC, Tata Steel, Tata Motors, HDFC, Idea and HCL Tech.
In the midcap space, Titan Industries, Bayer Cropscience, EID Parry, Ackruti City and MRF gained 3-5 pc while Simplex Infra, IndusInd Bank, Atlas Copco, Great Offshore and Mcleod Russel fell 2.4-3 pc.
In the smallcap space, Lloyds Metals, KRBL, HEG, Prime Focus and Best and Crompt went up 6-10 pc.
However, GMR Industries, Kwality Dairy, Deep Industries, Nalwa Sons and aurionPro Solutions lost 3.5-5 pc.
Mkts quiet on mixed Asian cues; RIL dips
Markets started the day on a quiet note following mixed cues from Asian markets. Private banking stocks were under pressure.
At 9:56 am, the Nifty was trading at 4,981, up 6 points and the Sensex was at 16,709, up 13 points.
The CNX Midcap rose 24 points to 7,204. About 541 shares advanced while 227 shares declined on the NSE.
Among the frontliners, TCS, Infosys, HDFC, Wipro, HCL Tech, ONGC and Maruti Suzuki were gainers while Unitech, Bharti Airtel, HDFC Bank and ICICI Bank gained.
However, heavyweight Reliance Industries was down over 1 pc.
In midcap space, Kale Consultants, 3i Infotech, Bajaj Hindusthan, Balrampur Chini, Triveni Engg, AMteck Auto, Sona Koyo, Mphasis and Carol Info were gainers in early trade.