Indian share markets opened the day lower in line with markets across Asia, after bond yields in the US once again rallied. This led to a broad-based selloff across sectoral indices with banking, metal, auto and financial stocks being the worst hit. On a broader market, large-caps saw a massive profit booking.

At around 10.20 am, Sensex was trading at 50,690 lower by 754 points while the Nifty 50 was struggling at 14,984.40 down by 260 points. The index has touched an intraday high and low of 15,101.05 and 14,980.20 in early trading hours.

On Sensex, only two stocks advanced which was ONGC trading higher by 0.5 percent and Tech Mahindra marginally up. The remaining 28 stocks on the index had slipped with HDFC, Bajaj Finserv, HDFC Bank and Axis Bank being the top underperformers plunging by nearly 3 percent each.

Heavyweight stocks like ICICI Bank, L&T, IndusInd Bank, Bajaj Finance and Kotak Bank slumped between 2-2.4 percent. While stocks like Reliance and Mahindra slipped by nearly 2 percent each.

Other stocks like NTPC, SBI, Nestle, Maruti, Asian Paint, Ultratech Cement and Bajaj Auto dipped between 1-2 percent. While TCS, HUL, Titan, Bharti Airtel and Dr. Reddy's were also under selling pressure by slipping nearly 1 percent each.
 

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