PFC, Bank of India, Vakrangee, Bajaj Hindusthan, SAIL, JSW Steel, NALCO, Union Bank and Motherson Sumi were down 1-5 percent.

Shares of Fortis Healthcare declined nearly 5 percent as SFIO is seeking certain information and documents from the company by March 9, 2018.

The company has received a notice from Serious Fraud Investigation Office (SFIO), Ministry of Corporate Affairs, New Delhi, seeking certain information and documents as mentioned therein to be submitted by March 9, 2018.

The company is in process of collating the said information and will be sharing the same in due course.

The financial implication/compensation/penalty and quantum of claims has not been referred in the aforesaid letter and hence cannot be ascertained, company said.

9:55 am Market Outlook: “This the fifth year of a bull market which has been a slow steady one with very little volatility. There have been a few corrections and we are in the middle of one at present. For the long-term investor, this is still a buy on dips market,” Dipan Mehta, Director, Elixir Equities Pvt. Ltd said in an exclusive interview with Moneycontrol’s Kshitij Anand.

“Whether this correction will deepen or not will become evident over the next 2-3 weeks. If a lower tops/lower bottoms formation get created and broad market indices trade below their 200 DMA (which they are not at present) then we may be in for an extended sell-off or a mild bear market.”

News Live: HDFC Bank may raise Rs 15,000cr via share sale, HDFC AMC to file DRHP this week

9:46 am Market Update: The market extended opening losses despite BJP’s landslide victory in Tripura. Weak Asian cues weighed on India.

The 30-share BSE Sensex was down 262.34 points or 0.77 percent at 33,784.60 and the 50-share NSE Nifty fell 91.10 points or 0.87 percent to 10,367.30.

About two shares declined for every share rising on the BSE.

The Nifty Midcap declined nearly a percent.

All sectoral indices were in the red, with Nifty Metal index falling most – down nearly 3 percent after Trump’s import tariff order on steel, aluminium in US

9:40 am Buzzing: Shares of Laurus Labs advanced 3 percent as the company has received Form 483 with zero observations for Unit 2.

source: moneycontrol.com