Key benchmark indices spent the day in the red and ended the trading session near the day's low. The BSE Sensex ended (provisional) at 17,221, down 265 points and the Nifty at 5,233, down 90 points.
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(Updated at 1413 hours)
Markets have extended losses in the late noon deals on the back of persistent selling pressure. The Sensex is down 234 points at 17,252 and the 50-share Nifty is down 80 points at 5,243 levels.
The Asian markets ended the day on a weak note. The Nikkei slipped 1.5% or 142 points to close at 9,546, Taiwan slipped 105 points to 7,600 and the Shangha ended weaker by 21 points at 2,258 levels.
Back home, Hindalco is the top loser among the Sensex stocks, down 5% to Rs 126. Sterlite Industries, BHEL, Jindal Steel, Larsen & Toubro, Maruti Suzuki, Tata Steel, ICICI Bank, NTPC, Gail India, SBI, Mahindra & Mahindra and Reliance Industries are also among the laggards.
On the other hand, HUL, DLF, Cipla and Bajaj Auto are among the notable gainers on the BSE benchmark index.
Selling is visible across the board. BSE Metal index is the top sectoral loser, down 3.15% or 357 points to 10,998 levels. Capital Goods index is also quoting lower by nearly 3% or 290 points at 10,069 levels. Power, Bankex, PSU, Consumer Durables, Auto, Oil & Gas, IT, FMCG and Realty indices are also among the losers on the sectoral front.
Meanwhile, Jewellery stocks are in limelight on the bourses in otherwise weak market after the jewellers called off their three-week-old strike on assurances from Finance Minister Pranab Mukherjee that the government would consider scrapping a budget proposal to levy an excise duty on unbranded jewellery.
The mid-cap and small-cap indices are also trading lowwer. The BSE mid-cap index is down 1.1% or 71 points at 6,402 levels and the small-cap index has shed 36 points to 6,809 levels.
The overall breadth remains negative as 1,629 stocks are declining while 1,050 are declining.
