Nifty below 6,100 mark

The Nifty fell below the psycological 6,100 mark and is currently down 116 points at 6,077 while the Sensex continued to slip. The benchmark index has lost 402 points at 20,186.

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Updated 1404 hrs
The downfall continues. After a negative opening, the markets brief attempt for a rebound lost steam as global markets tumbled on account of fears from the Chinese and European counters. The Sensex is down 328 points at 20,260 and the Nifty is currently trading 92 points down at 6,099.

The broader markets, which had been relatively outperforming for the past two days, also took a beating. The smallcap index is down 1.6% in line with the benchmark index while the midcap is trading 1.5% in the negative.

All the sectoral inices on the BSE is trading in the red. Realty down 3% lead the downfall followed by Consumer Durables and Metal indices losing 2% each.The least affected on the chart are Healthcare and Power down 0.8% each.

On the Asian front, it was quite an eventful day. The Shanghai composite index dropped by 5%, the biggest single-day decline since May on account of lingering talk of more interest rate increases and a scramble out of resource-related shares. On the other hand,Hang Seng and Nikkei closed shedding 1.9% and 1.3% respectively.

The European markets opening in the red and extending its losses didn't help either.CAC is down nearly 2% followed by DAX and FTSE shedding nearly 1.2% each. The euro falling on fears that Ireland may need a bailout just like Greece followed by a sharp decline in commodities and stock prices hastened a broad retreat from risky assets.

Back home, the scrips that gained  among the Sensex-30 stocks are HDFC up 0.6% followed by NTPC, Cipla and Hero Honda adding 0.03% - 0.2%

The major losers on the Sensex are Mahindra & Mahindra down 4%, DLF, Tata Steel, Hindalco and Bharti Airtel shedding 3% each.

The market breadth on the BSE is extremely negative. 2133 stocks have declined as 845 have advanced.