Besides some disappointing results from India Inc, weak Asian and European markets too appear to be weighing on sentiment and prompting investors to indulge in some heavy selling at several counters.
The Sensex has plunged to 19.799.39, losing 291.29 points or 1.41%. The Nifty is down with a loss of 77 points or 1.3% at 5913.50.
Maruti Suzuki is trading higher by a little over 1%. Maruti Suzuki has announced that its net profit for the quarter ended 30 June 2013 was Rs 632 crore, as compared to Rs 423.80 crore in the corresponding quarter last year.
Zee Entertainment has surged 6% to Rs 262 on impressive results. The company has reported a 42% increase in consolidated net profit to Rs 224.64 crore for the first quarter ended June 30, 2013. The company had posted a consolidated net profit of Rs 158.15 crore in the same period of previous fiscal, ZEEL said in a filing to the exchanges. The company's consolidated total income stood at Rs 973.25 crore in the April-June quarter of this fiscal compared to Rs 842.96 crore during the same period of 2012-13.