Mumbai, May 9 (IANS): Sensex and Nifty extended their morning session losses. Till 1:30 PM, the majority of the Indices were red as Sensex was down 802 points or 1.05 per cent at 72,664 points while Nifty was down 261 points or 1.17 per cent at 22,041 points.

Pressure was observed from the midcap and smallcap indices. The Nifty Small Cap 100 index was down 318 points, or 1.94 per cent at 16,142 points, and the Nifty Midcap was down 592 points, or 1.18 per cent, at 49,444 points.

The rise in India Vix was considered one of the reasons for the decline in the market. A jump of about 5 per cent was seen. The India Vix Index reflects the ups and downs in the market. The lower it is, the more stability there is in the market. As it increases, the exact opposite happens.

Until 1:30 pm, 1771 shares were trading in the red on the NSE, while 418 shares were trading in the red. In Nifty, 43 shares were in the red mark and 7 shares were in the green mark.

L&T dragged down the Nifty, which fell nearly 6 per cent. At the same time, Divis Lab was another top loser with a fall of 4 per cent, Coal India with a fall of 3.8 per cent, ONGC with a fall of 3.5 per cent, and ITC with a fall of 3.3 per cent.

At the same time, Hero MotoCorp is up 3.7 per cent, Tata Motors and M&M are up 2 per cent, and HCL Tech and Infosys are the top gainers, up 1 per cent.