The 30-share BSE Sensex closed at 20,005.37, down 216.02 points or 1.07 percent and the 50-share NSE Nifty fell 69.35 points or 1.14 percent to 6,012.65.
Reliance Comm, Mah and Mah, Tata Steel and Hindalco were among the top gainers with 3.95 percent, 1.67 percent, 1.53 percent and 0.78 percent up respectively.
NTPC, HDFC, Maruti Suzuki and Kotak Mahindra were among the top losers 3.41 percent, 2.63 percent, 2.63 percent and 2.44 percent down respectively.
Sensex continues to be red; ONGC, HDFC dip
The Sensex was trading at 19976.50, down 244.89 points and the Nifty was at 6006.40, 75.60 down points.
ONGC, NTPC, Bharti Airtel, ICICI Bank, HDFC, ITC and SAIL were down 2-3 percent. TCS, HDFC Bank, L&T, DLF, HUL, JSPL and Sun Pharma also declined 1-1.8 percent.
Maruti lost 3 percent and Kotak Mahindra Bank fell 2.5 percent. Reliance Industries declined 0.5 percent.
Tata Steel and Hindalco were the top gainers.
Sensex volatile on sell-off, weak Asian cues
On back of sell-off and profit booking, Sensex was trading amid volatity. Both the benchmarks, Sensex and Nifty, were weighed down by weak Asian cues.
At 12:10 pm, BSE Sensex was at 20,139.81, down 81.58 points and NSE Nifty was at 6054.85, down 27.15 points.
Sell off was seen in FMCG and private financial companies' shares along with NTPC, SAIL, Bharti, ONGC, TCS, L&T, Infosys, Tata Motors, DLF, Hero Honda and Sun Pharma.
However, on the positive side, buying in heavyweights like Reliance Industries, SBI and Wipro capped the losses.
Among the other gainers were M&M, Wipro, Hindalco, Sterlite Industries, BHEL, Tata Steel, Power Grid, Ranbaxy Labs and Dr Reddy's Labs.
Mkts open red on weak Asian cues
Both the benchmark indices have opened the day on a negative note due to weak Asian cues. At 9:17 am, BSE Sensex was at 20169, down 52 points and NSE Nifty was trading at 6068, down 14 points.
Selling pressure was seen in frontliners like Jindal Steel & Power, Hindalco, Sterlite Industries, Bharti Airtel, TCS, Sesa Goa, NTPC and ICICI Bank.
On the positive side, Cipla, Wipro, Power Grid, M&M and Jaiprakash Associates were witnessing buying interest.
Adding cheer to the markets were the new listings. Bangalore-based Prestige Estates was trading at Rs 205, up 12 per cent, against the issue price of Rs 183 a share. Gyscoal Alloys surged 44 per cent to Rs 103 a share as against issue price of Rs 71 on first day. BS Transcomm rose 3.5 per cent to Rs 256 as against issue price of Rs 248 a share.