The Sensex continued to trade weak due to sustained selling action witnessed in index pivotals.
 
In addition to weak worldwide markets, weak earnings from India Inc and lower economic data have also contributed to today’s downfall.

Realty stocks were severely hit followed by metal and banking stocks.

Merchandise exports from India shrunk 1% in December, 2008 and stood at $12.7 billion, as against $ 12.82 billion during the corresponding period of the last year.

According to the figures from the Commerce Ministry, imports in Jan 2009 grew 9% to $20.25 billion as compared to $18.61 billion during the year ago month.

Accordingly, trade deficit during December 2008 stood at $7.5 billion, a sharp rise of around 31.5% from the deficit of $5.7 billion in the same month in Year 2007.

The 30-share index, BSE Sensex, today (Feb 2) opened with a loss of 60.66 points, at 9,363.58 on Monday.

At 1:59 p.m., the 30-share index Sensex lost 315.59 points at 9108.65. Meanwhile the broad based Nifty was trading lower by 93.40 points at 2,781.40.

DLF lost 12.8% to Rs 154.50, while HDIL declined 9.4% at Rs 87.45. The other stocks, which fell between 4% to 6% included India Bulls Real Estate, Unitech, Ansal Infrastructure, Orbit Corporation, Anant Raj Industries and Phoenix Mills.

Sobha Developers, Omaxe, Mahindra Lifespace, Penland and Akruti City have also declined sharply.

The stock, which tumbled 2.5% to 7% were Hindalco, SAIL, Tata Steel, Jindal Steel, Sesa Goa, Nalco, JSW Steel, Sterlite Industries, Welspun Gujarat, Ispat Industries and Hindustan Zinc.

From the banking segment, ICICI Bank, HDFC Bank and SBI fell 4.65%, 3.85% and 3.65% respectively.

OBC and Axis Bank were also down by 6.3% and 5% respectively.

Other stocks that also posted sharp losses were Kotak Bank, Bank of India, Bank of Baroda, IDBI Bank, Indian Overseas Bank, IndusInd Bank, Dena Bank, Andhra Bank, Central Bank of India and Syndicate, Jaiprakash Associates, Reliance Infrastructure, HDFC, Tata Motors, Wipro, Tata Consultancy Services, Reliance Communications, ONGC, Reliance Industries, Bharti Airtel, NTPC, Sun Pharmaceuticals, Larsen & Toubro and Infosys Technologies.