Markets have recovered, albeit marginally, from the day's low. The Sensex is now down 141 points at 17,549.
Earlier in the day, the index had slipped to a low of 17,461 on global worries after the debt ratings on Greece and Portugal were downgraded.
The Nifty is down 45 points at 5,263.
Most of the sectoral indices are in red. The BSE realty index is down 2.2% at 3,411. Metal and oil indices have dropped over 1% each.
Jaiparaksh Associates has shed 3.2% at Rs 148. DLF has dropped 2.2% to Rs 310. Reliance Infrastructure is down 1% at Rs 1,122.
Metal stocks continues to slump. Hindalco and Tata Steel have dropped 2% to Rs 180 and Rs 635, respectively. Sterlite has slipped 1.3% to Rs 818.
Market heavyweight, Reliance, has moved down 2% to Rs 1041.
Tata Power is down 2% at Rs 1338. ICICI Bank, Maruti Suzuki, Mahindra & Mahindra and Larsen & Toubro are the other big losers in the index today.
However, Sun Pharma has bucked the general trend and is up 1.2% at Rs 1617. SBI has jumped 1% to Rs 2237.
FMCG stocks continue to be marginally in green. Hindustan Unilever and ITC have added 0.5% each to Rs 243 and rs 271, respectively.
The BSE market breadth is negative. Out of 2,710 stocks traded, 1,799 have declined while 833 have advanced.