Sensex down 370 points

Markets conrinued to trade with a negative bias in the noon deals, the Sensex had shed 370 points at 17,807 and the S&P CNX Nifty was at 5318 lower by 118 points.

Most of the Asian markets ended the day in the red, Nikkei ended the day at 10,452 lower by 126 points, Starits Times shed 29 points to end at 2972 and the Hang Seng was at 22,699 lower by 207 points.

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(Updated at 12.30 pm)

Markets contiued to trade on a weak note on back of selling pressure seen across sectors. The Sensex was at 17,932 lower by 245 points and the S&P CNX Nifty was lower by 74 points at 5362.

Larsen & Toubro was the top loser among the Sensex stocks, down 3% at Rs 1553, Tata Motors was trading at Rs 1112 lower by 2.8%. ONGC, Tata Power, Mahindra & Mahindra, Jaiprakash Associates, ICICI Bank, Maruti Suzuki Hindalco and Sterlite were also trading in the red lower by 1.5-2.5% each. On the other hand Hero Honda, Bharti Airtel, DLF and Cipla were some of the notable gainers.

All the sectoral were trading in the negative territory, BSE Consumer Durable index was the top sectoral loser, the index was down 3.2% or 188 points at 5639. Capital Goods index was lower by 2.2% or 292 points at 12,579. Auto, Metal, Bankex, Power, Oil & Gas, PSU, Healthcare and IT indices were lower by 1-1.7% each.

Gitanjali Gems was the top loser among the consumer durable stocks, the stock was at Rs 216 lower by nearly 6%, Whirlpool, Titan Industries, VIP Industries, Rajesh Exports and Videocon Industries were also among the losers. Among the Capital Goods stocks BEML was the top loser followed by ABB, Punj Lloyd, reliance Industrial Infrastructure, BGR Energy, Larsen & Toubro and Crompton Greaves.

The broader markets also reeled under the selling pressure, the BSE small-cap index lost 100 points at 7935 and the mid-cap index was at 6454 lower by 103 points.