Markets traded at the day's low, with the benchmark indices falling nearly 0.75% after rising over 2% yesterday. The Sensex was down 132 points at 18,070 while the broader Nifty index declined 40 points to slip below the 5,500 mark at 1145 hours.
The broader indices outperformed the benchmark indices in trade. The market breadth was even with over 48% stocks rising on the broader BSE 500 index.
Most sectoral indices traded with deep cuts on the Bombay Stock Exchange. Banking, metal, energy, auto and consumer durables indices traded with 1-2% cuts today. Power stocks (1.5%) traded off the day's high.
High beta metal stock like Hindalco (-4.6%) and Sterlite (-4.4%) were the worst performers on the Nifty index. Shares of Coal India (-4.3%) slumped on concerns of falling margins over assured coal supply to power producers. Tata Motors (-4.1%) and Jaiprakash Associates (-3.9%) saw profit booking after strong gains on quarterly results.
The underperformance in Reliance Industries, India's biggest firm, continued. Shares of the company traded 3% lower on the Nifty index. RIL stocks have been under selling pressure on reports of falling gas output from its KG-D6 well. Sun Pharma stocks were down on a $960 million patent suit in the US.
JSPL (3%) was the top gainer on the Nifty index. Other power producing firms like Tata Power (2.4%) and Reliance Power (1.4%) also traded higher after the PMO initiated the clearance of coal supply to private sector power producers yesterday.
Markets traded at the day's low, with the benchmark indices falling nearly 0.75% after rising over 2% yesterday. The Sensex was down 132 points at 18,070 while the broader Nifty index declined 40 points to slip below the 5,500 mark at 1145 hours.
The broader indices outperformed the benchmark indices in trade. The market breadth was even with over 48% stocks rising on the broader BSE 500 index.
Most sectoral indices traded with deep cuts on the Bombay Stock Exchange. Banking, metal, energy, auto and consumer durables indices traded with 1-2% cuts today. Power stocks (1.5%) traded off the day's high.
High beta metal stock like Hindalco (-4.6%) and Sterlite (-4.4%) were the worst performers on the Nifty index. Shares of Coal India (-4.3%) slumped on concerns of falling margins over assured coal supply to power producers. Tata Motors (-4.1%) and Jaiprakash Associates (-3.9%) saw profit booking after strong gains on quarterly results.
The underperformance in Reliance Industries, India's biggest firm, continued. Shares of the company traded 3% lower on the Nifty index. RIL stocks have been under selling pressure on reports of falling gas output from its KG-D6 well. Sun Pharma stocks were down on a $960 million patent suit in the US.
JSPL (3%) was the top gainer on the Nifty index. Other power producing firms like Tata Power (2.4%) and Reliance Power (1.4%) also traded higher after the PMO initiated the clearance of coal supply to private sector power producers yesterday.
Markets traded at the day's low, with the benchmark indices falling nearly 0.75% after rising over 2% yesterday. The Sensex was down 132 points at 18,070 while the broader Nifty index declined 40 points to slip below the 5,500 mark at 1145 hours.
The broader indices outperformed the benchmark indices in trade. The market breadth was even with over 48% stocks rising on the broader BSE 500 index.
Most sectoral indices traded with deep cuts on the Bombay Stock Exchange. Banking, metal, energy, auto and consumer durables indices traded with 1-2% cuts today. Power stocks (1.5%) traded off the day's high.
High beta metal stock like Hindalco (-4.6%) and Sterlite (-4.4%) were the worst performers on the Nifty index. Shares of Coal India (-4.3%) slumped on concerns of falling margins over assured coal supply to power producers. Tata Motors (-4.1%) and Jaiprakash Associates (-3.9%) saw profit booking after strong gains on quarterly results.
The underperformance in Reliance Industries, India's biggest firm, continued. Shares of the company traded 3% lower on the Nifty index. RIL stocks have been under selling pressure on reports of falling gas output from its KG-D6 well. Sun Pharma stocks were down on a $960 million patent suit in the US.
JSPL (3%) was the top gainer on the Nifty index. Other power producing firms like Tata Power (2.4%) and Reliance Power (1.4%) also traded higher after the PMO initiated the clearance of coal supply to private sector power producers yesterday.
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