Tracking weak global cues, the D-Street benchmark Sensex continued to extend losses during the late morning deals on Friday as foreign funds and retail investors indulged in selling in the auto, realty, metal, oil & gas and banking space. The market sentiments were dampened as concerns have mounted that China's slowdown would drag on global growth.
At 11:08 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 27198.56, down by 409.26 points or 1.48 per cent while the NSE Nifty was at 8246.8, down by 125.95 points or 1.5 per cent.
Meanwhile, bearish sentiment ruled the roost as slowing global growth prompts investors to shun risky assets.
Major show spoilers were Vedanta Ltd. (Rs. 94.65,-3.91%), Tata Motors Ltd. (Rs. 329.00,-3.83%), Hero MotoCorp Ltd. (Rs. 2540.00,-3.57%), GAIL (India) Ltd. (Rs. 309.20,-3.54%), State Bank of India (Rs. 260.95,-3.51%), among others.
The top gainers of the BSE Sensex pack were Infosys Ltd. (Rs. 1146.95,+0.77%), Sun Pharmaceutical Industries Ltd. (Rs. 937.40,+0.19%), Hindustan Unilever Ltd. (Rs. 875.00,+0.17%), Tata Consultancy Services Ltd. (Rs. 2691.50,+0.01%), Lupin Ltd. (Rs. 1892.15,+0.00%), among others.
The market breadth, indicating the overall strength of the market, was weak. On BSE, out of the total 2302 shares traded, 451 advanced while 1788 shares declined and 63 remained unchanged.
On the global front, all the Asian indices were trading in the red as fears over a China slowdown and sliding emerging market currencies unnerved traders. China"s Shanghai Composite extended a slide after a private manufacturing gauge contracted at the fastest pace since March 2009, coming in at 47.1 in August, with a reading below 50 signaling contraction, stoking more fears over the health of the world"s second biggest economy.