Sensex tanks over 200 points on profit booking

It was a weak start for Indian markets on Tuesday as market participants return after celebrating diwali. Profit taking at higher levels after strong gains in past few sessions is pulling market lower.

Key benchmark indices continue to trade weak --the 30-share BSE Sensex is down almost 207 points or 0.97% at 21,033 levels while the 50-share NSE Nifty index is down 60 points at 6,257 levels. Broader markets too came under selling pressure; BSE Mid-caps and small-caps are down between 0.2-0.4%.  

At 10:40 am, the rupee was trading at Rs 61.82 compared with Friday's close of Rs 61.74 per dollar.

Stocks in Asia pared early gains and were trading mixed on Tuesday with China's Shanghai Composite losing the most. The Nikkei was trading flat while the Straits Times was up 0.1%. China's Shanghai Composite was down nearly 1% while Hang Seng was down 0.7%.

Stocks on Wall Street ended with marginal gains amid a volatile trading session on Monday.
 
The Dow Jones industrial average ended up 24 points, or 0.1%, to end at 15,639.12. The Standard & Poor's 500 Index closed 6 points, or 0.4% higher, at 1,767.93. The Nasdaq Composite Index edged up 15 points or 0,4%, to end the session at 3,936.59.

Key European shares ended higher on Monday on better-than-expected manufacturing PMI from Germany, UK construction PMI jumped to a 6-year high in October. The CAC-40 gained 15 points to end at 4,288.59, the DAX rose 29 points to end at 9,037.23 while the FTSE-100 ended 29 points higher at 6,763.62.

Tata Motors, Cipla, HDFC, RIL & Coal India are top gainers on the BSE while ITC, BHEL, Dr. Reddy'S lab, Sesa Sterlite and TCS are the top laggards.

Dr Reddy's is the top Nifty loser, down 2.7 pct

All sectors on the BSE sectoral indices are currently witnessing selling pressure. Losses in sectors is led by FMCG, Power and Consumer durables, capital goods, IT, Healthcare and banks which are down between 1-2%.

BSE FMCG index is down 1.9%; Losers in BSE power index are GVK Power, which is down 3.9 percent, Suzlon Energy down 3.1%, Lanco Infra down almost 3 %

Losers in BSE FMCG index -- ITC down 2.7 pct, United Spirits down 2.14 pct, Tata Global down 1.8 pct

Shares of IL&FS Investment Managers were up over 3% at Rs 20.10 after the board at its meeting held on November 1 approved a bonus issue in the ratio of 1:2 equity shares.