Markets Remain Weak, Sensex Drops 99.21 Pts

Markets Remain Weak, Sensex Drops 99.21 PtsTrading remained lethargic at Indian bourses even as a key index fell further into the negative zone and was trading almost 100 points lower shortly after noon.

At 12.18 p. m. the 30-share index BSE Sensex, which opened at 17,013.68, dropped 99.21 points to trade at 16,900.8 as against its previous closure at 17,000.01.

Meanwhile, the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty lost 34.7 points at 5,053.4.

However, broader markets witnessed some buying action with the BSE midcap index trading 0.4% higher and the BSE small cap index 0.45% up.

The overall breadth of the stock market was optimistic as it saw 1,423 progressions as against 1,226 declinations.

The majority of other Asian markets were trading on a passive note.

Japanese Nikkei closed 1.05% down at 10,145.72, while the South Korean Kospi declined 0.26% at 1,618.2 points.

Hong Kong's Hang Seng was ruling in the pessimistic zone also at 20,766.25, down 0.53%, whereas the Chinese Shanghai composite index dropped 2.05% at 3,033.64 points. (With Input from Agencies)