Sensex and Nifty falls by monday morning

Benchmark Nifty and Sensex were hovering around in the opening session on monday morning - the Sensex was at 19,940 mark and Nifty 6,000 level by 12:30pm IST. The selling panic has been continued for third day and the FIIs were net sellers for the first on Friday since August 30, 2010. They were net sellers to the tune of Rs 112.75 crore.

The profit booking could be because of Coal India issue - the biggest issue in Indian markets history. The government aims to raise more than Rs 15,000 crore through IPO, which opened today.

Only eight out of 50 stocks were in green on Nifty - capital goods, private financial, FMCG, telecom, metal and select power were pulling the markets down. Reliance Industries was quite a bit supportive; it was down just 0.3%. However, Sun Pharma, BPCL, Hero Honda, SBI and Dr Reddys Labs were on buyers' radar. Technology stocks also bounced back after sell-off in last week.

The Sensex was trading at 19941, down 183 points and the Nifty was at 6006, down 56 points.