Sensex sinks on early trade

The BSE SENSEX closed at 15881.14 down by 121.37 points or by 1.26% and the NSE Nifty ended at 4763.25 down by 37.35 points or by 0.78%.

At 10.40 am IST BSE was seen trading at 15,690.45 down by 190.69 points or 0.69%. The 50-share NSE was at 4704.20 down by 59.05 points or 1.24%.

The Indian market witnessed a sharp fall on second day on weak global cues, as sentiments of investors were depressed by free fall of rupee. Indian markets are also not getting optimistic cues from foreign traders.

Asian market fell 1-2% and expected to trade weekly today. Other than equities, commodities slipped to 4-5% due to unresolved European debt crisis. The European Markets too ended in red yesterday. Market sentiments were depressed after Fitch downgraded the ratings of four large financial institutions .

Among Sectoral indices on the BSE, All the sectors were trading in negative terrain. Capital Goods, Consumer Durable, and metal were among top losers.

On the National Stock Exchange (NSE), the top volume gainers were BPCL, CIPLA, SUNPHARMA and HDFC posted gains between 0.61% - 3.31%.

The major losers on the NSE were CAIRN (4.14%), BHARTIARTL (3.96%), RPOWER (3.61%) Hindalco (3.30%).