Markets continue to remain weak in early afternoon trades as stocks in the metals and technology spaces as well as heavyweights like ONGC and Reliance Industries remain under pressure
The Sensex is trading lower by 103 points at 11811 at 01.10 PM.
The Nifty is trading lower by 37 points at 3512.
Sun TV has lost further ground and is now trading more than 12.5 per cent lower.
Ranbaxy has declined substantially in early afternoon trades and is trading nearly 4.5 per cent lower, making it the biggest loser among index stocks. Among other pharma stocks, Sun Pharma has lost more than 2 per cent.
Metal stocks have lost further ground after the weak opening. Tata Steel has given up more than 2 per cent while SAIL is trading nearly 2.5 per cent lower.
Among aluminium stocks Hindalco continues to be the big loser, trading nearly 2.5 per cent lower. Nalco has lost over 2 per cent.
Auto stocks continue to be weak with Bajaj Auto the biggest loser among the pack. The stock has lost close to 2.5 per cent while Hero Honda continues to trade more than a per cent lower.
Maruti and Tata Motors have lost around 2 per cent each while M&M has lost over 2 per cent.
HCL Technologies is the biggest loser among technology stocks with losses of nearly 2.5 per cent. Infosys and TCS have lost around 1.5 per cent each while Satyam and Wipro are holding on to modest gains.
IPCL has lost further ground and is now trading nearly 3.5 per cent lower.
Zee Tele and MTNL have also lost close to 3.5 per cent each.
Cement stocks ACC and Gujarat Ambuja continue to trade with losses of over 1.5 per cent each.
Reliance Industries and ONGC have lost over a per cent each and are exerting considerable pressure on the indices.
Banking stocks have recovered partly from yesterday's losses. SBI and HDFC Bank are trading with gains of around a per cent each while HDFC and ICICI Bank have gained marginally.
BHEL is the biggest gainer among index stocks with gains of nearly 1.5 per cent. HPCL and Cipla are among the other gainers.
The mid-cap index is trading with marginal losses though there are many stocks which gave gained substantially in today's trade. Market breadth continues to be negative on the NSE.
Godavari Power and Ispat were listed on the exchanges today. Issue at Rs81, the stock opened at Rs95 on the NSE and saw a high of Rs135.8. The stock has trading at Rs111.4.
Noida Toll Bridge, Subex Systems and Bhagyanagar Metals are among the major gainers in mid-caps.
3M India, Indoetch Transformers and Sonata Software are among the mid-cap losers.