Caution also prevailed ahead of the outcome of the two-day FOMC meet, which will be announced later tonight.
Hero Moto, ITC, Cipla, Bharti Airtel and Sun Pharma were major losers in the Sensex. Among the gainers were Sesa Sterlite, SBI, ONGC, Hindalco and Tata Steel.
Metal index is up over 1 percent led by Sesa Sterlite, Tata Steel and Hindalco. SBI and ONGC are up 2-3 percent each. ITC is still down 3 percent while Tata Power, Cipla, Hero Moto and Sun Pharma are still dragging 2 percent each.
Shares of HDFC, ICICI Bank, State Bank of India, Reliance Industries, ONGC, Dr Reddy's Labs, Sesa Sterlite and Gail India gained 1-2 percent.
The rupee fell a 13-month low against the dollar while benchmark bond yields hit their highest level in two weeks as the brewing financial crisis in Russia continued to raise concerns about foreign fund outflows.
The broader markets saw major selling pressure with the BSE Midcap and Smallcap indices declining 2 percent each. Nearly four shares declined for every share advancing on the Bombay Stock Exchange.
M, Dr Reddy's Labs, Bharti Airtel, Cipla and Hindalco are among the laggards. The gainers include Tata Steel, NTPC, Tata Motors, Reliance and BHEL.
The sell-off in banks, FMCG and metals stocks pulled the 30-share Sensex down 538.12 points or 1.97 percent to 26781.44. The 50-share NSE Nifty lost 152 points or 1.85 percent to close at 8067.60 on unwinding of derivative positions as well as offloading of shares by momentum players among FIIs.
The Nifty closed below 8100-level, down 152.00 points or 1.8 percent at 8067.60. About 566 shares have advanced, 2312 shares declined, and 86 shares are unchanged.
Sesa Sterlite, Dr Reddy's Labs, Hindalco, Tata Power, ICICI Bank are among the laggards. TCS, Wipro, Infosys and BHEL are top gainers in the Sensex.
The broader markets cracked more compared to benchmarks. The BSE Midcap and Smallcap indices lost 2-3 percent. About five shares declined for every share advancing on the Bombay Stock Exchange.
Global markets are playing havoc with the Indian rupee breaching 63 per dollar for first time in 10-month from January 28. The markets are awaiting the outcome of two day FOMC meeting starting today.
Aluminium major Hindalco Industries topped the selling list in Sensex, down over 5 percent as Special Court has ordered further investigations in coal scam case.
The Indian rupee continues its decline as it breached 63 per dollar for the first time since January 28. It has opened lower by 31 paise at 63.25 per dollar against the previous day's close of 62.94 a dollar.
Hopes of a rate cut increased as November WPI fell to zero, a five-year low, down from its October level of 1.77 percent led by a drop in fuel prices. Fuel inflation went down 4.9 percent reflecting the sharp plunge in global crude prices.
On December 17, 2014 KSP Logistics Ltd sold 36,75,000 shares of Gateway Distriparks at Rs 335.01.
"PGL, a subsidiary of Holidaybreak, the European Education and Leisure specialist group adds its second site, Camp Rumbug in Australia, as part of its plan to expand in Australia," said Cox Kings.
The partnership with the German homoeopathic firm is for manufacturing and marketing of select Hevert formulations in India.
"MM, as part of its efforts to align its production with sales requirements, may observe on a need basis, 1 to 7 days in a month as âno production daysâ at some plants," said the company in its filing to the exchange.
"After due deliberations, it was decided that NMDC will increase production every year to reach the target of 75-100 million tones. It was also decided to incorporate this target in the MoU that the company signs with the government," said an official release after the meeting on Tuesday.
Here are few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have Bharti Airtel, Idea Cellular, Tata Steel, Jagran Prakashan, Apollo Tyres, GVK Power, Hydro SS and SpiceJet.
The brokerage cut its earnings per share forecasts for FY15E-FY17E by 2-9 percent on the back of weak enterprise services revenue growth (down 6.9 percent Y-o-Y) registered by its largest client, Hewlett-Packard in Q4 2014, HPâs most recent reported quarter.
Jagran Prakashan, which runs leading Hindi daily Dainik Jagran, said the all-cash acquisition of MBPL, which had a turnover of Rs 161.8 crore last fiscal, is expected to provide strong return on its investment.
The government allowed mining in four mines (Bamberi, Katamati, Joda (West East) mines) till January 28 as per an interim order of the Orissa High Court.
Investors were also hurriedly buying shares of Jet Airways on hopes of lower aviation turbine fuel (ATF) price as Brent crude oil prices fell over USD 1 per barrel and below USD 60 for the first time since July 2009.
Low crude prices will help oil marketing companies reduce underrecoveries on sale of subsidised kerosene and LPG gas. These companies have already been earning income on petrol and diesel as Brent crude fell nearly 48 percent from June when the price was USD 115 a barrel.
SpiceJet executives were set to meet government officials for another round of talks after a deadline set by regulators for the budget carrier to set out a plan for paying its dues to airline authorities and fuel suppliers expired on Sunday.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today. We have Infosys, TCS, Wipro, JSPL, Hindalco and Dr Reddy.
It ruled that a further investigation is required and sought statement of coal minister in the allocation of coal blocks. Former Prime Minister Manmohan Singh held charge of coal ministry at the time of allocation.
In some cases, JP Associates withheld principal amounts of fixed deposits, say sources. The company had launched FD scheme in 2012 for tenure of 1, 2, 3 years.