At 10:56 hours IST, the Indian market was possibly witnessing one of the toughest fights in recent times. The Sensex continued to trade sharply lower though there was a bit of buying at lower levels. The Niftyhasn't had a chance since morning to climb above the 5100-mark. The impact of the S&P downgrade of the US has spilled over to India, although there was a theory that India may see a bounce-back on Monday
The 30-share BSE Sensex was trading at 16,854, down 451 points and the 50-share NSE Nifty went down 131 points to 5,080 led by fall in 45 shares.
In the largecap space, DLF, Tata Motors, Wipro, TCS, Sterlite Industries and HCL Tech were top gainers, slipping 5-8%. However, ACC, Ambuja Cements, BPCL, GAIL and ONGC were only gainers on the Nifty.
On the global front, Asian markets like Shanghai, Hang Seng, Straits Times, Taiwan and Kospi fell 4-5%. Japan's Nikkei declined over 2%.
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