Indian benchmark indices are trading in the red with Nifty shedding 71 points and is trading at 11,751 while the Sensex is down 212 points and is trading at 39,240 level.
Nifty Metal is down over 2 percent dragged by Tata Steel, JSPL and JSW Steel which are down over 4 percent each followed by Hindalco Industries, SAIL, Vedanta and Jindal Stainless.
From the oil & gas space, the top losers are HPCL which shed over 3 percent followed by Reliance Industries, GAIL India, BPCL, Indian Oil Corporation and ONGC.
The top losers from the media space are Eros International Media, Inox Leisure, PVR, Sun TV, Network18, Dish TV and TV18 Broadcast.
Selective real estate stocks are trading in the red, the top losers being DLF, Sunteck Realty, Unitech, Godrej Properties, Sobha and Oberoi Realty.
India VIX is up 4.82 percent at 14.57 levels.
The top gainers from the NSE include YES Bank, Wipro, Asian Paints, Infosys and Zee Entertainment while the top losers are Tata Steel, JSW Steel, Vedanta, Hindalco Industries and Grasim Industries.
The most active stocks are Shriram Transport Finance Corporation, IndusInd Bank, YES Bank, Indiabulls Housing Finance and Reliance Industries.
246 stocks have hit 52-week low on BSE including Jet Airways, Kwality, Sintex Industries, Jain Irrigation, Reliance Naval, Reliance Infra, Reliance Capital, Reliance Home Finance, Unitech, JP Associates, Eros Media, Aban Offshore, Manpasand Beverages, Mercator, Reliance Communications, Bombay Burmah Trading, Emami, Cyient and Hindustan Zinc among others.
The breadth of the market favoured the declines as 416 stocks advanced and 1278 declined while 415 remained unchanged on the NSE. On the BSE, 588 stocks advanced, 1537 declined and 114 remained unchanged.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.