Sensex slides below 20k, global cues weigh

Weakness in the global markets weighs on India. The Sensex is down 126 points at 19,990 and the Nifty has fallen 41 points to 5994.

European markets also opened weak taking cues from a down beat session on Wall Stret and Asian Markets, U.K.'s FTSE, Germany's DAX-30 and France's CAC-40 all declined in early trades, down around 0.8% each.

Even in Asia, all the markets are trading the red on renewed concerns over the health of European banks. China's Shanghai Composite has declined 0.6%, Japan's Nikkei 225 has fallen 1.1%, and Taiwan Weighted is trading flat. 

The broader markets have also turned negative along with benchmark indices. The Small-cap index is down 3 points at 10,290 and the Mid-cap index is down by 10 points at 8,139.

The Power index continues to be the top gainer among the sectoral indices up, 0.5% at 3226, followed by Capital Goods, up 0.4%, PSU index whic is trading flat.

Siemens  is the top gainer among the capital goods space, up 3.1% at Rs 810 followed by ABB, NTPC, Reliance power and Reliance Infra.

Punj Lloyd is down 1.5%, Crompton Greeves, down 1.3% and Havells India, down 0.9% are top losers from capital goods space.

FMCG is the top sectoral loser, down 0.7% at 3,728; Godrej Consumers, down 2.2%, Colgate Palmolive, down 2.1% and Dabur India, down 1.4% are the top losers.

Only 8 components on Sensex are trading in the green, NTPC is the top gainer, up 1.4% at Rs  217 followed by Mahindra & Mahindra, Reliance Communication, ACC and Jindal Steel.

Meanwhile, HDFC, down 1.9%, Hindalco Industries, down 1.8%, index heavyweight Reliance Industries, ICICI Bank and Tata Motors continue to be the losers, down almost 1% each.

The BSE market breadth continues to be positive as 1514 stocks are advancing and 1263 stocks are declining.