Global cues drag Nifty below 6100; banks, cap goods dip

At 14:11 hours IST - the benchmark Sensex shed around 200 points in afternoon trade while the Nifty was trading well below the 6100 level, led by further sell-off in financial, capital goods, realty, metal and auto companies' shares along with heavyweights ONGC (tanked 2%) and Infosys (down 0.8%). Reliance Industries too slipped into red.

Weak European cues weighed on markets; France's CAC, Germany's DAX and Britain's FTSE were down 0.5-1%. Even Dow Jones and Nasdaq futures declined 0.5% each.

Jim Walker, MD of  Asianomics said that Europe is a bigger problem than China and US.