Sensex sheds further, selling intensifies across markets
Selling intensified at noon in Indian equities markets after trading had begun Friday on a weak note.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,708.62 points, was ruling at 18,469.96 points, down 214.47 points or 1.15 percent from its previous close at 18,684.43 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange edged lower green, trading 1.28 percent down at 5,532.8 points.
Broader markets were ruling lower as well with the BSE midcap index down 2.74 percent and the BSE smallcap index trading 2.76 percent lower.
Of the 13 sectoral indices on the BSE, the only ones holding in the green were IT and telecom stocks. Consumer durables, auto and realty scrips were facing bulk of the selling pressure.
The market breadth was negative, with 520 stocks advancing compared to 2,185 scrips on the decline, while 70 stocks remained unchanged.
Among gainers on the Sensex were Infosys, ONGC, Bharti Airtel and Wipro, while the losers included M&M, BHEL, DLF and Tata Motors.
Other Asian stock markets were mostly trading in the red with Japanese stocks leading the downtrend after credit rating agency Standard and Poor's downgraded the rating on the world's third-largest economy.
The Japanese Nikkei closed 1.13 percent lower at 10,360.34 points, while Hong Kong's Hang Seng was ruling 0.28 percent down at 23,713.42 points.
The Chinese Shanghai Composite index was ruling dull at 2,751.28 points.