The market has weakened in the mid-noon deals on account of persistent selling pressure in auto, banking, pharma and metal stocks.
The market has weakened in the mid-noon deals on account of persistent selling pressure in auto, banking, pharma and metal stocks.
The BSE Sensex has tumbled to a low of 26,584, and is now down 222 points at 26,615.
The Nifty has touched a low of 8,042, and is now down 65 points at 8,070.
The India VIX (Volatility) index has zoomed over 10.5 percent to 18.605.
The broader market is also significantly in red. The CNX Nifty Junior, Midcap and the Smallcap indices are down around a percent each at 18,987, 12,588 and 5,192, respectively.
The breadth too is negative - out of 1,715 stocks traded on the NSE, 886 have declined and 553 have advanced so far.
Among sectors - the CNX Metal index has shed 2.2 percent at 2,254. The Auto and Pharma indices have dropped over 1.5 percent each to 8,072 and 11,554, respectively. The Bank Nifty is down 1.3 percent at 17,490.
Metal & Mining stocks the major losers - NMDC has slumped 5 percent to Rs. 117. Vedanta and Tata Steel have dropped nearly 3 percent each to Rs. 183 and Rs. 307, respectively. Hindalco is down 1.5 percent at Rs. 120.
Punjab National Bank is the other major loser in the Nifty-50, down almost 3 percent at Rs. 146. Tata Power too has slipped 2.8 percent to Rs. 68.90.
ONGC, Sun Pharma and Tata Motors have declined around 2 percent each to Rs. 302, Rs. 826 and Rs. 448, respectively.
Mahindra & Mahindra, Lupin, ITC, NTPC, HCL Technologies, Hero MotoCorp, BHEL and ICICI Bank are the other major losers.
On the positive front, BPCL and Wipro have rallied over 2 percent each to Rs. 857 and Rs. 557, respectively.
Tech Mahindra has advanced 1.5 percent to Rs. 555. Bosch and Idea Cellular are up over a percent each at Rs. 21,955 and Rs. 177, respectively.
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