Markets remain weak; Wipro falls 3%

Benchmark indices continue to trade in the negative zone due to persistent selling on the back of weak corporate earnings amid weakness in the global peers.

At 12:15 PM, the Sensex was lower by 84 points at 28,286 and Nifty slipped by 20 points at 8,569.

The broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.2%. The market breadth is positive, with 1,348 gainers and 1,033 losers on the BSE.

The lower than expected corporate earnings of the blue chips along with the unproductive monsoon session so far have weighed on the sentiment on Dalal Street. In today’s trades, however, the market participants would eagerly anticipate the Q1 results of index heavyweights such as Reliance Industries and Axis Bank.

On the global front, the Asian equities took a hit today as China's factory sector contracted by the most in 15 months in July as shrinking orders depressed output.

Also, officials from the lender institutions -- the European Commission, the European Central Bank and IMF will be in Athens during the day to start detailed discussions with the Greek government.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 185.42 crore yesterday as per provisional data released by the stock exchanges.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)

Wipro Technologies (Wipro Ltd)