At 11:38 hours IST - the 50-share NSE Nifty slipped further and was hovering around 5950 level, led by fall in financial, oil & gas, technology, realty, metal, auto, power and cement companies' shares. The sell-off in Asian markets also weighed on markets; Shanghai was down 1.7% and Hang Seng down 1.5%. Straits Times slipped 0.5%. Nikkei was flat, which slipped from day's high.

However, Bharti Airtel was the only top gainer on Nifty; rallied 4% post the company launched its new logo and crossed 200 million subscribers globally yesterday. L&T, Sterlite Industries, Hero Honda and Dr Reddy's Labs were other gainers.

The Sensex was trading at 19789, down 142 points and the Nifty was at 5953, down 45.8 points. The broader indices fell too; the BSE Midcap and Smallcap indices declined 0.4-0.7%.

Reliance Industries, TCS, ONGC, SAIL, NTPC, HDFC Bank, JSPL, M&M, Wipro, Infosys, ITC, DLF, SBI and ICICI Bank were leading losers on Nifty.

In midcap space, Educomp Solutions, MVL, Ipca Labs, IRB Infra and Stride Arcolab gained 2.5-6% while Videocon Industries, Ruchi Soya, IVRCL Assets, Indiabulls Financial and Indiabulls Real fell 4-6.5%.

In smallcap space, Newtime Infra surged 16.64%. Consolidated Construction, Zenith Infotech, Hindustan Motors and Piramal Glass rose 6-10% while Suashish Diamond, Nitesh Estates, Zylog Systems, Garware Offshore and Ruby Mills lost 5-10.5%.

Breadth was in favour of declines; about 1163 shares advanced while 2006 shares declined on BSE. Nearly 282 shares were unchanged.