Markets extend losses, trade at day lows

Realty, consumer durables, capital goods lead losses, Broader markets underperform

Markets have slipped to the day's low on continued selling pressure in realty, consumer durables and capital goods shares. The Sensex was down 244 points at 18,529. Earlier in the day, the BSE benchmark index had touched a low of 18517.

Nifty was down 75 points at 5,592. The NSE benchmark has breached 5,600 for the first time since April 16, 2013.

Meanwhile, India VIX crossed 21 for the first time since June 26, 2012 today. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month June series to July series.

Broader markets have declined even more, underperforming the benchmark index this afternoon. BSE mid-cap index has slipped 2.5% at 5883 while the small-cap index is down 2% at 5,605.

In Asia, Japan's Nikkei share average fell on Monday in choppy trade as worries about Chinese economic and financial stability soured investor sentiment, dragging down China-related stocks such as construction equipment makers and some exporters. The benchmark Nikkei, which climbed as much as 1.5 percent early in the session, ended the day down 1.3 percent at 13,062.78.

All the sectoral indices were in the red this afternoon, with the losses being led by the BSE realty index. The index was down 5% at 1,435.

Consumer durables and capital goods indices were down 3% each, followed by PSU and FMCG index.

Sterlite India has slipped 3.6% at Rs 78. BHEL shed 3.5% at Rs 165 to touch its 52-week low. ONGC, Larsen & Toubro and ITC are down 3% each.

On the other hand, Tata Power is up 1% at Rs 82. Sun Pharma, ICICI Bank and Jindal Steel were flat.

BSE market breadth was extremely weak. Out of 2266 stocks traded, 1643 shares declined while 506 shares advanced.