MUMBAI: The cheer on the street after encouraging IIP data was shortlived as traders got back to book profits. Realty and metals continued to be beaten down.
Telecom stocks were also under pressure after the government decided to impose an annual licence fee of 3 per cent of revenues on mobile operators who will offer 3G mobile services on stand-alone basis.
At 2:10 pm, Bombay Stock Exchange's Sensex slumped 2.55 per cent or 251 points at 9,588.35. The index swung in a range of 9,928.60 and 9,559.33.
National Stock Exchange's Nifty lost 2.29 per cent or 103.1 points to a low of 2835.55
Second rung stocks were also not spared. BSE Midcap and Smallcap indices were down 1.84 per cent and 1.33 per cent respectively.
(2.18%), TCS (1.72%), HDFC (1.41%), Infosys Technologies (1.23%), WIPRO (0.99%) and HDFC BANK (0.42%) were the major Sensex gainers.
Jaiprakash Associates (-11.08%), DLF (-7.49%), ICICI Bank (-7.37%), HINDALCO (-6.83%) and Tata Motors (-6.18%) were the top losers.
Market breadth was negative on the BSE with 1557 declines and 803 advances.
