Mumbai -- At 12:36 pm (IST), The BSE 30-share Sensex has lost by 94 points at 10196 and the NSE 50-share Nifty is down by 22 points at 2984.

The market continues to trade with negative bias led selling in heavy weights like Hindalco, VSNL, Reliance Industries, SAIL and TISCO.

Tech stocks are witnessing profit booking. I-Flex lost by 1.66% to Rs. 1242, HCL Tech slips 3.2% to Rs. 531 and NIIT is down by 1% to Rs. 346. However Infosys and Satyam Computers has gained by 0.5% each

VSNL has plunged over 3% to Rs. 355, the scrip is the biggest loser on 50-scrip of Nifty. The scrip has touched an intra-say high of Rs. 371 and a low of Rs. 335 and has recorded volumes of over 2 lakh shares.

Mysore Cement has lost by 3.5% to Rs. 46. According to the reports Germany's Heidelberg Cement is planning to acquire a majority stake in the SK Birla group company. The scrip has touched a high of Rs. 46 and a low of Rs. 49 and has recorded volumes of over 1 lakh shares on BSE.

L&T and BHEL are the major losers among the Capital Goods stocks

Capital Goods stocks are witnessing selling pressure. L&T lost 2.3% to Rs. 2081, Gammon India Ltd is down by 1.5% to Rs. 322, BHEL slips by 1.5% to Rs. 1825 and Crompton Greaves lost by 1.3% to Rs. 900.

At 13:15 pm (IST),Crompton Greaves has lost by 1.6% to Rs. 897.The company declared their results with Q1 profit at Rs. 363.7mn (up 16%), sales at Rs. 8.02bn (up 40.7%). The scrip has touched a high of Rs. 919 and a low of Rs. 887 and has recorded volumes of over 50 thousand shares on NSE.