Overall the markets were in a consolidation mode because on the other side, buying was seen in heavyweights like Reliance Industries, Tata Motor, HUL along with cement, healthcare and select metal companies' shares.
The Sensex closed at 20852, down 152 points and the Nifty was at 6273, down 39 points.
Mkts continue red on profit booking
Sustained profit booking in technology, financial, capital goods, realty, PSU power and auto companies' shares, forced Sensex to dip further. Nifty also continued in the negative zone.
At 1: 49 pm, BSE Sensex was at 20,946.48, down 58.48 points and NSE Nifty was at 6,297.05, down 15.40 points.
Among the top losers were ONGC down 2.48 per cent; Hero Honda down 1.65 per cent; M&M down 1.6 per cent; Maruti Suzuki down 1.49 per cent; HDFC Bank down 1.48 per cent; Power Grid Corp down 3.43 per cent; BPCL down 2.8 per cent and Kotak Mahindra Bank down 1.86 per cent.
On the positive side, Cement, healthcare and metal companies' shares were helping the indices. Among the gainers were Reliance Industries, Reliance Power, HUL and Tata Motors.
Sensex tanks 100 pts; telecom, auto, IT drag
Nifty was trading range-bound between 6273-6295 with a negative bias. Sensex also tanked over 100 points with negative cues from financial, capital goods, realty, technology, auto (barring Tata Motors) and telecom companies' shares.
At 11:57 am, BSE Sensex was at 20,889.36, down -115.60 points and NSE Nifty stood at 6,283.35, down 29.10 points.
NTPC, ONGC and Power Grid were among the other draggers on the market.
However, on the positive side, cement, metal (barring SAIL) and healthcare companies' shares along with Reliance Industries, Tata Motors, HUL were witnessing buying interest and in turn capping some of the losses.
Mkts dip on volatility at opening
Even though the benchmarks opened the day on a positive note, Nifty quickly fell prey to profit booking leading it into volatile trading.
Half hour into the trading, both the indices slipped into the red zone. At 9:31 am, BSE Sensex was at 20,937.95, down 67.01 points and NSE Nifty was at 6,289.20, down 23.25 points.
On opening, the CNX Midcap Index also fell 19 points to 9701.
HCL Tech, Infosys, DLF, L&T, TCS and NTPC were reeling under selling pressure. The biggest losers was Power Grid, which slipped 5 per cent on finalisation of FPO price band at Rs 85 to 90 per share.
On the positive side, Hindalco, Jaiprakash Associates, ITC, Ambuja Cements, Tata Motors, Bharti Airtel and Sun Pharma were the early gainers on buying interest.
As Reliance Power and GE announced Rs 10,000 crore power deal in presence of US President Barack Obama, the former rallied 6 per cent in early trade.