Sensex near day's low

The Sensex is now quoting at 16,311, down 117 points and the Nifty is at 4,882, down 31 points.

-----------------------------------------------------------------------------------------------------------

(Updated at 1355pm)

The Sensex has slipped to a low of 16,302 and is now trading near its day's low. The index is now at 16,315, down 113 points. The NSE Nifty is at 4,882, down 31 points.

Reliance Industries and Sterlite have shed 3% each to Rs 1,001 and Rs 765, respectively.

Jaiprakash Associates, Mahindra & Mahindra and Tata Steel have declined 2% each to Rs 135, Rs 1,005 and Rs 574, respectively. Tata Steel, Tata Power, Reliance Infrastructure, Maruti and  Reliance Communciation declined over 1.5% each.

NTPC and HDFC Bank on the other hand have added over 1% each to Rs 205 and Rs 1,673, respectively.

The market breadth is negative, out of 2,804 shares traded, 1,607 have declined and 1,095 have advanced so far on the BSE.

Among the sectoral indices, metal index has declined 2% to 16,159 and oil & gas index is down 1%, respectively.