With the mood still remaining quite bearish, amid the possibility of a shutdown of the U.S. government, and on worries about the economic situation in the country, the Indian stock market remains deep down in the red this afternoon, after suffering a severe setback following a weak start.
Caution ahead of the release of data on June quarter current account deficit is also contributing to the market's weakness.
The Sensex is down 241.58 points or 1.2% at 19,485.69. The Nifty index of the National Stock Exchange is down 71.60 points or 1.2% at 5761.60.
Capital goods, metal, bank and power stocks are down sharply. Realty, automobile, FMCG and oil stocks too are mostly trading notably lower. Selct healthcare stocks are up in positive territory with modest gains. Information technology stocks are fairly steady thanks to the rupee's weakness against the U.S. dollar.
Tata Steel is down more than 6%. BHEL has lost around 4.5%. ICICI Bank, Coal India, Larsen & Toubro, ONGC, Hindalco, Mahindra & Mahindra, Hero Motocorp, Bharti Airtel and ITC are down 2% - 4%.
NTPC, Tata Power, Tata Motors, Reliance Industries, State Bank of India, HDFC Bank, Jindal Steel & Power, HDFC, Maruti Suzuki and Dr Reddy's Laboratorie are also trading notably lower.
NMDC has lost over 4.5%. Jaiprakash Associates, Punjab National Bank, IndusInd Bank, DLF, Axis Bank, Bank of Baroda, Asian Paints, IDFC and Grasim Industries are also down sharply.
HCL Technologies, Wipro, Infosys, Lupin, Hindustan Unilever and Sun Pharmaceutical Industries are up 1% - 2%. ACC, BPCL, Tata Consultancy Services, Bajaj Auto, Ambuja Cements and Cipla are up with modest gains.