The BSE benchmark index Sensex today fell from seven-month high levels losing 283 points

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on profit-booking mainly in realty, banking and oil and gas stocks.

The 30-share barometer, which had gained 275 points in last two trading sessions to touch a seven-month high, fell by 283.36 points, or 1.54 per cent to 18,145.25 points.

Similarly, the broad-based National Stock Exchange index Nifty fell by 101.80 points, or 1.82 per cent to 5,505.35.

Selling pressure gathered momentum in bluechip led by Reliance Industries and banking stocks, which had gained significantly in last few sessions.

The off-loading by investors was mainly due to current month settlement in the derivatives segment tomorrow.

Market major Reliance Industries fell by 1.02 per cent to Rs 833.20 and state-run lender State Bank of India fell by 7.91 per cent to Rs 2,257.80. ICICI Bank fell by 3.42 per cent to Rs 957.15.

The realty sector index dropped the most by losing 6.77 per cent to 2,023.10 followed by consumer durable index by 4.93 per cent to 6,527.68. The metal index lost 4.29 per cent to 12,115.08 and banking index by 3.82 per cent to 12,348.87.

Markets @ 10.15 AM (PTI)

The BSE benchmark index Sensex declined by 31 points in early trade, after hitting 30-week high, due to mild selling mainly in banking, capital goods, consumer durable and metal stocks.

Index heavyweight Reliance Industries (RIL) edged higher after the company said after market hours yesterday that it has agreed to form a joint venture with Russian petrochemical company SIBUR to produce butyl rubber in India.

The BSE barometer resumed higher at 18,490.87 and hovered in a range of 18,523.78 and 18,397.76 before quoting at 18,397.40 at 1130 hrs, showing a net fall of 31.21 points from its last close.

The NSE 50-share Nifty also moved down by 14.85 points or 0.26 per cent to 5,592.30 points.

Major losers were SBI (3.52 per cent), ICICI Bank (1.72 per cent), Larsen (1.44 per cent), DLF (1.43 per cent) and M&M (1.16 per cent).

Volatility is expected as traders roll over positions in futures & options (F&O) segment from the near-month February 2012 series to March 2012 series. The near-month February 2012 F&O contracts will expire tomorrow.

Foreign institutional investors (FIIs) bought shares worth a net Rs 1400.17 crore yesterday as per provisional data from the stock exchanges.

Asian markets were mixed in the early trade amid concerns over Europe's Greek aid deal and higher oil prices.

Key benchmark indices in Indonesia, Hong Kong, and Singapore were down by between 0.1 per cent to 0.43 per cent. Key benchmark indices in China, South Korea, Japan and Taiwan rose by between 0.09 per cent to 0.96 per cent.

Markets @ 09.00 AM (PTI)

The BSE Sensex rose 0.3 percent early on Wednesday, with oil explorer ONGC and automaker Tata Motors leading the gains.

Kingfisher Airlines rose 4.7 percent after the Hindustan Times newspaper reported State Bank of India has decided on a 16.5 billion rupees loan package to the debt-crippled carrier.

At 9:16 a.m. (0346 GMT), the main 30-share BSE stock index was up 0.35 percent at 18,481.41, and the 50-share NSE index gained 0.22 percent to 5,618.60.