Nifty, Sensex slip further; Rupee falls by 50 paise

The BSE Sensex and NSE Nifty extended fall due to further fall in rupee and index heavyweights. The Indian rupee fell by 50 paise to 55.82 against the US dollar.

The 30-share BSE benchmark lost 173.40 points or 1.01% to 16,985.04 and the 50-share NSE benchmark went down 55.05 points or 1.06% to 5,150.05, but the broader markets were down just 0.4%-0.7%.

Cigarette major ITC and software services exporter Infosys were down 1% each.

Country's largest lenders State Bank of India, ICICI Bank and HDFC Bank too fell 1% each. State-owned oil & gas producer ONGC and top telecom operator Bharti Airtel tanked 2% each.

Car maker Maruti Suzuki extended fall, losing nearly 6% as company stopped operation at its Manesar plant since violence on Wednesday. Commercial vehical manufacturer Tata Motors was down 1.6%.

Metals stocks like Sterlite Industries, Jindal Steel, Hindalco Industries and Tata Steel were down 2-3.5%. State-owned power equipment maker BHEL tumbled 2%.

However, shares of Dr Reddy's Labs and Tata Power moved up 0.9% and 0.4%, respectively.

Most active shares on exchanges were Claris Life, SBI, Maruti Suzuki, Indraprastha Gas, Shoppers Stop, ICICI Bank, Pantaloon Retail and United Spirits.

More than two shares declined for every share advancing on the National Stock Exchange.

Asian shares slid and the euro hovered near multi-year lows hit in early trade on Monday, as Spain sparked concerns about its ability to stave off a sovereign bailout after two indebted regions sought financial assistance from the central government. (With inputs from Reuters)

Shanghai and Straits Times were down around 1% while Hang Seng tanked 2.5%. Nikkei, Kospi and Taiwan Weighted lost 1.5%-2%.