TV
The 30-share index Sensex, which had lost 213 points in the previous session, further declined by 138.65 points to 16,146.33.
In volatile trade, the key index moved between 16,373.84 and 16,104.34 points.
Meanwhile, food inflation soared to 9.80 per cent for the week ended August 13 from 9.03 per cent in the previous week, sparking further selling even as global trends were positive.
Brokers said selling pressure was also aided by investors` winding up their pending positions on last days of the month ahead of expiry in the derivatives segment.
The broad-based National Stock Exchange index Nifty lost 49.30 points to 4,839.60.
The pull-down was led by Reliance Industries and Infosys, both together command 21 per cent weight in Sensex.
Reliance Industries fell by 0.87 per cent and Infosys 2.68 per cent.
Technology shares fell the most and the sectoral index lost a 2.07 per cent as investors were concerns that global slowdown will hurt corporate earnings. Indian software exporting companies get more than 50 per cent of their revenues from the U.S. and Europe.
The metal sector lost 1.86 per cent to emerge as the second worst performer. Hindalco Industries dropped for the first time in five days. Tata Steel fell 2.64 per cent extending yesterday?s 4.4 per cent loss.
The banking sector stocks were also down more than 1 per cent on fears that high interest rates would hurt borrowers` ability to repay loans and increase delinquencies. The banking index lost 1.40 per cent to 10,508.25.
The Reserve Bank of India has raised its repo rate 11 times since March 2010 to tame rising prices, and meeting again on September 16.
However, some gains in realty, healthcare and FMCG sector stocks averted any major fall in the market.
