At 13.13 hrs IST, the Nifty slips below 5900 on back of tension mounting in Korea. South Korea Government has called an emergency Security Ministry meeting, reports CNBC-TV18 quoting Agencies. South Korea Military says the country is on highest non-war time alert. At least 200 artillery shells hit South Korean islands. South Korea President Office says that North Korea artillery fire is in response to South drills.
The Sensex was down 528.60 points or 2.65% at 19428.99, and the Nifty down 181.75 points or 3.02% at 5828.25. About 573 shares advanced, 2502 shares declined, and 377 shares remain unchanged.
Heavy selling was seen in realty, metal, oil&gas, banks, PSU, FMCG and power stocks. All BSE sectoral indices were trading in red with minimal losses of 1% each. BSE Midcap and Smallcap indices were down 1.7% and 1.9% respectively.
In the largecap space, Hindalco, Suzlon Energy, SAIL, SBI and IDFC were down 3.5-4%. All Nifty 50 stocks were trading in red.
The most active shares on NSE were SBI, Reliance Industries, Tata Motors, Tata Steel and ICICI Bank.
Index heavyweight Reliance was trading at Rs 984.40 down 2.74% from its previous close of Rs 1,012.10. Tech major Infosys was trading at Rs 3,004.45 down 1.24% from its previous close of Rs 3,042.10. Cigarette major ITC was trading at Rs 171.50 down 2.47% from its previous close of Rs 175.85.
Hindustan Lever was trading at Rs 299.10 down 0.08% from its previous close of Rs 299.35. Refinery major HPCL was trading at Rs 439.00 down 2.07% from its previous close of Rs 448.30.
Top gainers on the BSE Midcap: Jain Irrigation, KGN Industries, Gujarat NRE Coke, Rashtriya Chem and Patni Computer were up 2-9%.
Top losers on the BSE Midcap: Jai Corp, Indiabulls Real, MVL, Glodyne Techno and PTC India were down 5-7%.
Top gainers on the BSE Smallcap: Rollatainers, India Securities, Mah Polybutenes, Newtime Infra and JVL Agro Ind were up 5-7%.
Top losers on the BSE Smallcap: MarathonNextgen, Splash Media, Vindhya Telelinks, Hind Org Chem and Guj Amb Exports were down 7-9%.
China's key stock index fell 1.9 percent to a six-week closing low on Tuesday, weighed by metals firms and miners, as investors already on edge from recent monetary tightening measures eyed a stronger dollar as a reason to sell heavily weighted commodity issues.
The Shanghai Composite Index closed at 2,828.3 points, trading well below its 250-day moving average, now at 2,886 points. It fell by more than 3 percent at one point in early afternoon trade.
The dollar and US Treasuries rose and US stock futures fell on Tuesday after a major exchange of artillery fire on the Korean peninsula.
The euro, stocks and commodities also fell as a bailout for Ireland failed to allay fears of a wider crisis.
(With inputs from Reuters)
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