After a weak opening today, the 30-share index BSE Sensex continued to trade in the negative zone on the back of global worries, and lack of support at higher levels.

Heavy selling action was witnessed in banking, IT and power stocks.

BSE Midcap and Smallcap index shed 1.56% and 1.42% respectively.

As declining growth, massive job cuts, worries of a deep and prolonged recession in worldwide economies continue to disturb the outlook, the stock market, despite a few rallies here and there, has been fighting to make a headway for the last few months.

Indian stock market opened the day with a loss of 206.89 points, at 9,084.12 as against its last closure at 9291.01, down 94.41 points.

At 10:49 a.m., Sensex lost 125.28 points at 9,165.73 after hitting a high of 9,165.73 and a low of 8,957.52. Meanwhile the broad based Nifty stood at 2,751.90, down 47.65 points, after touching a high of 2,802.45 and a low of 2,708.45.

Overall market breadth was sharply negative ad it witnessed 500 advancements as against 1,244 declinations.

Some of the gainers at the 30-share index were Tata Steel (0.72%), Tata Motors (0.57%), and Ranbaxy Laboratories (0.28%).

On the other hand, the major losers’ in the list included ICICI Bank (4.02%), ACC (3.86%), Wipro (3.55%), Reliance Energy (3.51%), Tata Power Company (3.26%), and Grasim Industries (3.20%).