Sensex, Nifty sink 1%; Cipla, Hindalco, Aurobindo top losers

Moneycontrol Bureau12:59 pm Market Update: Benchmark indices continued to fall. The 30-share BSE Sensex was down 226.30 points at 25814.40 and the 50-share NSE Nifty dropped 74.60 points to 7911.15.About 1882 shares declined against 484 advancing shares on the BSE.12:40 pm Buzzing: Shares of Panacea Biotec surged more than 10 percent intraday as the company launched world's first fully liquid tetravalent vaccine Easyfour-TT in India to protect children from vaccine-preventable diseases.

The tetravalent vaccine is used for active primary immunisation and booster dose against diphtheria, tetanus and pertussis (DTP) and haemophilus influenza type B (Hib).

Easyfour-TT is a sterile and uniform suspension, manufactured using CDAP technology with WHO pre-qualified antigens which ensures good quality, high immunogenicity and less reactogenicity.

12:20 pm Market Expert: The fall in the market is also largely because of unwinding of the position, which people have been carrying. The momentum broke in November and people are now finding pains because the market is not recovering. That is where the desperate selling is taking place,  Deven Choksey of KRChoksey Investment Managers says.According to him, this could be the last leg of selling which may have started happening and whether it could break it down below to 7,750 or even beyond that. Difficult to predict this point of time because volume is very low.