Markets under pressure; Sensex dips over 300 points

The Indian markets began the session on a negative note following the weak global cues. Heavy selling pressure in technology, metal, banking, capital goods and realty stocks dragged the markets lower. The market breadth was negative. The broader indices were also in red.

Among the 30 Sensex shares, 27 shares were trading lower. Jindal Steel down by 3.81%, followed by Tata Motors down by 3.42% and Hindalco Industries down by 3.29%. HUL up by 1.56%, and Cipla up by 0.05%.

At 9.43 am, the Sensex was trading at 16578, 291 points lower and the Nifty was trading at 4966, down by 94 points.