Global cues weigh, Sensex down 440pts

With no significant improvements in the Asian markets, the Sensex continues to trade in the negative. The BSE benchmark index is currently at 16,917, down 388 points while the Nifty is down 112 points at 5,098.

The broader markets are no different. The smallcap index lost over 3% and is underperforming as compared to the the midcap index and the Sensex down 2.5% each.

In the Asian markets, Nikkei is down 2% while Shanghai Composite and Hang Seng are down 3% each.

Among the sectoral indices, Realty and IT indices are the most battered, losing 5% each. Bankex, Metal and Auto indices have shed 2-3% while FMCG and Oil & Gas indices down 1% each are the least affected.

Among the Sensex stocks, ONGC and Hero Honda up 0.1-0.2% are the only stocks in the green.

The top losers on the Sensex are DLF down 7% followed by Tata Motors, TCS, Infosys, Wipro, Sterlite and Tata Steel down  4-5%.

ADAG companies, Reliance Communications and Reliance Infrastructure are trading lower by more than 4% each after being excluded from the BSE 30-share Sensex from today onwards. Now, there are no representatives from the ADAG  pack on the Sensex.Reliance Communications is down 5.5% while Reliance Infrastructure lost 4%

The market breadth is very negative. 2,586 stocks have declined while 295 advanced on the BSE.