Markets extend losses in afternoon trades

Markets continue to move downwards, dragged by realty and metal stocks. A downbeat inflation data and the derivatives expiry dampened investor sentiments.

The Sensex dropped below the 19,000 mark in morning trades and touched a low of 18,813. The index was at 18,817 - down 152 points.

Nifty slipped 46 points to 5,641.

The food price index rose 15.57 per cent while the fuel price index climbed 10.87 per cent in the year to Jan. 15, government data showed.

India's food inflation quickened to a one-year high late last month as unseasonal rains hurt the summer harvest of vegetables such as onions, potatoes and tomatoes.

All the sectoral indice were in red. Realty index was down 2% at 2,439. Anant Raj Industries and DLF shed 3% at Rs 100 and Rs 246, respectively.

HDIL, Unitech, Parsvnath Developers, Orbit Corporation and Sobha Developers were in red.

Healthcare, metal, oil & gas and IT indices were down 1-2% each.

Mahindra & Mahindra continued to top the losers list - down 4% at Rs 741.

Sterlite slipped 3.6% to Rs 172. Jindal Steel dropped 2.6% to Rs 670.

Wipro, Hindustan Unilever and Bharti Airtel dropped 2.5% each to Rs 435, Rs 274 and Rs 329, respectively.

Cipla, BHEL, Infosys and Maruti Suzuki dropped 1-2% each. Other losers included HDFC, ICICI Bank, ONGC and Reliance.

Meanwhile, Tata Motors added 1.5% to Rs 1,182. Jaiprakash Associates, Bajaj Auto and ITC were in green.