Indian stock market, which opened weak following negative global sentiment, continued its downward movement on account of heavy selling action in stocks cutting across sectors.

After closing negatively after a fall of 329.29 points (3.42%) on Monday (Feb 16), the 30-share index, BSE Sensex, today (Feb 17), opened at 9,213.40, down 92.05 points. US markets remained closed for Presidents Day holiday on Monday, February 16.

In today’s session, markets remained weak following yesterday’s non-eventful budget that failed to boost investors’ reaction.

Realty stocks were hammered badly. Reflecting their sharp fall, the BSE Realty index lost around 4.5% followed by Bankex, which fell nearly 3%. BSE Metal and Consumer Durables barometers declined by around 2.75%.

The Auto index dropped more than 2%. BSE Power, Oil & Gas, PSU, Teck, Capital Goods and IT lost 1.5% - 2%.

Led by finance and commodity companies, Asian stocks declined amid worry that insurers may have to increase capital reserves and as metals costs and shipping rates turned down.

At 10:58 hrs, the 30-share index Sensex was trading down 203.48 points, or 2.19%, at 9,101.97. Meanwhile the broad based Nifty lost 59.90 points, or 2.1%, at 2,788.60.

The overall market breadth was sharply negative.

The major losers were DLF (down 6.5%) and Mahindra & Mahindra (5.75%). The stocks, which fell 3% to 4% included Tata Steel, ICICI Bank, HDFC, SBI, Reliance Communications, Reliance Infrastructure, HDFC Bank, Hindalco and Maruti Suzuki.

Grasim Industries, ACC, Jaiprakash Associates, Sterlite Industries, Reliance Industries, Wipro, Tata Consultancy Services, ONGC and BHEL have lost 2% - 2.75%.

The losers’ list also included HDFC Bank, Anant Raj Industries, Mahindra Lifespace, Sobha Developers ICICI Bank, Union Bank of India, Canara Bank, Kotak Bank, Indian Overseas Bank, Allahabad Bank, Yes Bank, Axis Bank, Oriental Bank of Commerce, Bank of India, IDBI Bank, Punjab National Bank, Bank of Baroda, IndusInd Bank, Federal Bank, Unitech, Orbit Corporation, Penland, HDIL, Ansal Infrastructure, India Bulls Real Estate, Phoenix Mills, Parsvnath Developers, Omaxe and Akruti City.