Selling pressure were seen in all sectors, with the most effected ones being metal, realty, infrastructure and oil & gas, which rallied sharply.
Sensex closed at 17,141.53, down 189.02 points or 1.09pc and the 50-share NSE Nifty settled below the 5150 level, which slipped 57.45 points or 1.11pc to close at 5136.15.
Sensex shed 200pts on weak global cues
Sensex dipped 200 points on the back of weak global cues and Nifty was hovering around 5150 level. Asian and European markets slipped on profit booking as they rallied sharply on Monday, May 10, on European Union/IMF's one trillion dollar package.
At 1:59 pm, Nifty was trading at 5143, down 50 points and the Sensex was at 17153, down 176 points.
Top losers - Reliance Communications was trading at Rs 147.45, down 4.69pc; Reliance Infrastructure was at Rs 1,021.50, down 3.89pc; Hindalco was at Rs 170.25, down 2.96pc; DLF was at Rs 295.70, down 2.76pc; Bharti Airtel was at Rs 286.90, down 2.53pc and Idea Cellular was at Rs 60.65, down 3.73pc.
Among the midcaps, National Fertiliser, Sobha Developer, Dish TV India, Rashtriya Chemical and HT Media gained 4 to 12pc. The losers were Piramal Health, Bajaj Hindusthan, Gee Kay Finance, Dena Bank and Shree Renuka down 4 to 7pc.
In the smallcap space, TIL, Cholamandalam, JMD Telefilms, Shristi Infra and Asahi India rose 7 to 11pc while Panoramic Universal, Kemrock Industries, Assam Company and Jyoti Structure dipped 6 to 11pc.
Sensex dips 100pts; tech, metal down
Benchmark Sensex was witnessing some profit booking and dipped 100 points. Technology, metal, FMCG, capital goods, power, realty, cement and telecom companies' shares continued to be under pressure.
However, buying were seen in banking and pharma companies' shares. The losses were capped to a major extent by buying in Reliance Industries, GAIL, Jaiprakash Associates, M&M, Cairn and Hero Honda.
At 11:02 am, Sensex was trading at 17228, down 102 points and the Nifty was at 5165, down 28 points.
Among the midcaps, Sobha Developer, National Fertiliser, HT Media, Essar Shipping and Mahindra Life gained 4.4 to 9pc. However Gee Kay Finance, Piramal Health, Dena Bank, India Infoline and Shree Renuka slipped 3 to 5pc.
In the smallcap space, Cholamandalam, JMD Telefilms, Asahi India, Shristi Infra and Sical Logistics went up 6 to 14pc. On the losing side were Thiru Arooran, Panoramic Universal, Kemrock Industries, Maharashtra Polybutenes and Shree Ram Urban down 4.5 to 11.5pc.
Top losers- DLF was trading at Rs 296.30, down 2.56pc; ONGC was at Rs 1,025, down 2.51pc; Reliance Infrastructure was at Rs 1,037.75, down 2.36pc; Bharti Airtel was at Rs 288.25, down 2.07pc; Hindalco was at Rs 172.15, down 1.88pc; Jindal Steel was at Rs 674.55, down 2.48pc and Unitech was at Rs 77.60, down 2.21pc.
Mkts open flat; Rel Infra, HDFC dip
Markets opened flat after the Monday, May 10 rally following steep rise in global markets on European Union/IMF's one trillion package. Technology, realty, metal, oil & gas exploration along with select financial companies' shares were under pressure.
At 9:02 am, Nifty was trading at 5179, down 13 points and the Sensex was at 17275, down 56 points.
Among the frontliners, the losers in the opening trade were HDFC Bank, Tata Motors, Bharti Airtel, JSPL, SAIL, Reliance Power and Reliance Infrastructure.
However, buying interests were seen in Kotak Mahindra Bank and Ranbaxy Labs ahead of numbers.
After losing 7pc on Monday, May 10, on disappointing results, Cipla surged 1pc.
Midcap & smallcap space:
HT Media surged 7pc and Jubilant Foodworks gained 5pc post strong quarterly numbers.
RNRL dipped 2pc after sell-off in last two days.
Orbit Corporation was flat.
Fortis Healthcare moved up 1.5pc as the company issued 2.235 crore shares on preferential basis to GIC at Rs 170/share.
Jubilant Organ gained 3pc.
Recently listed - Talwalkars Fitness surged 4pc.
However, Union Bank, Allahabad Bank, Andhra Bank and Syndicate Bank were marginally in red.
Asian markets were mixed in trade. Shanghai gained 0.77pc. Nikkei, Straits Times, Kospi and Taiwan were marginally in green. However, Hang Seng slipped 1pc and Jakarta lost 0.3pc.