Indian market snapped its two days of gain and tumbled due to huge selling across the board. Weakness continued during the trading session on the back of weak global cues and sustained selling by foreign funds. Along with that fears of recession and deteriorating corporate earnings dragged down equity markets all over the world. Domestic markets opened sharply lower tracking nervousness in global markets. The US markets fell on sharp sell off and on feeble earnings. Market slipped further on the back of profit booking as well as weak Asian markets.
Further, stocks continued to trade sharply lower to end with huge losses. BSE Sensex ended below 10,200 level along with NSE Nifty below 3,100 mark. On the sectoral front, most of the indices remained under pressure and among those, Metal, Oil & Gas, Capital Goods, Bank and IT stocks witnessed most of the selling from these baskets. However, FMCG stocks were in limelight. Profit booking was also witnessed in Midcap and Smallcap stocks.
Among the Sensex pack 28 stocks ended in negative terrain while 2 in positive. The market breadth was negative as 1733 stocks closed in red while 778 stocks closed in green and 77 stocks remained unchanged.
The BSE Sensex closed lower by 513.49 points at 10,169.90 and NSE Nifty ended down by 169.75 points at 3,065.15. The BSE Mid Caps and Small Caps closed with losses of 96.85 points 3,490.39 and by 84.59 points at 4,111.69. The BSE Sensex touched intraday high of 10,484.85 and intraday low of 10,128.22.
Losers from the BSE Sensex pack are Tata Steel (12.04%), Sterlite Industries (10.04%), Reliance Communication Ltd (8.79%), ICICI Bank (8.04%), JP Associates (7.88%), Tata Motors (7.87%),), Bharti Airtel (7.76%), M&M Ltd (7.14%), ACC Ltd (7.11%), SBI (6.56%), Wipro Ltd (5.61%) and Reliance Infra (6.37%).
The BSE Metal index ended down by 482.31 points at 5,619.45. Major losers are Tata Steel (12.04%), Sterlite Industries (10.04%), Jindal Steel (9.45%), Nalco (9.10%), Steel Authority (7.13%) and Wespan Gujarat Sr (6.89%).
The BSE Oil & Gas index plunged 376.70 points to close at 6,397.58. Major losers are Cairn Ind (9.64%), BPCL (8.15%), Gail India (7.05 %), HPCL (6.85%), Reliance Petroleum (5.97%) and Reliance (5.83%).
The BSE Bank index lost 337.65 points to close at 5,504.58 as Bank of Baroda (8.53%), ICICI Bank (8.04%), Union Bank (7.73%), SBI (6.56%), Bank of India (6.41%) and Punjab National Bank (5.78%) in negative territory.
The BSE Capital Goods index closed lower by 336.49 points at 7,226.93. Losers are Areva (80.35%), Usha Martin (12.37%), Praj Industries (9.18%), ABB Ltd (8.26%), Gammon Indi (8.01%) and Suzlon Energy (7.16%).
The BSE Reality index ended down by 199.23 points at 2,433.70. Losers are Indiabull Real (12.75%), Phoenix Mill (12.42%), Anant Raj (11.63%), Unitech Ltd (9.87%), Parsvnath (8.98%) and Mahindra Life (7.41%).
The BSE FMCG index gained 12.20 points to close at 1,969.56 as United Spr (5.08%), ITC Ltd (1.04%), HUL (0.50%) and Colgate Palm (0.41%) ended in positive territory.
Further, stocks continued to trade sharply lower to end with huge losses. BSE Sensex ended below 10,200 level along with NSE Nifty below 3,100 mark. On the sectoral front, most of the indices remained under pressure and among those, Metal, Oil & Gas, Capital Goods, Bank and IT stocks witnessed most of the selling from these baskets. However, FMCG stocks were in limelight. Profit booking was also witnessed in Midcap and Smallcap stocks.
Among the Sensex pack 28 stocks ended in negative terrain while 2 in positive. The market breadth was negative as 1733 stocks closed in red while 778 stocks closed in green and 77 stocks remained unchanged.
The BSE Sensex closed lower by 513.49 points at 10,169.90 and NSE Nifty ended down by 169.75 points at 3,065.15. The BSE Mid Caps and Small Caps closed with losses of 96.85 points 3,490.39 and by 84.59 points at 4,111.69. The BSE Sensex touched intraday high of 10,484.85 and intraday low of 10,128.22.
Losers from the BSE Sensex pack are Tata Steel (12.04%), Sterlite Industries (10.04%), Reliance Communication Ltd (8.79%), ICICI Bank (8.04%), JP Associates (7.88%), Tata Motors (7.87%),), Bharti Airtel (7.76%), M&M Ltd (7.14%), ACC Ltd (7.11%), SBI (6.56%), Wipro Ltd (5.61%) and Reliance Infra (6.37%).
The BSE Metal index ended down by 482.31 points at 5,619.45. Major losers are Tata Steel (12.04%), Sterlite Industries (10.04%), Jindal Steel (9.45%), Nalco (9.10%), Steel Authority (7.13%) and Wespan Gujarat Sr (6.89%).
The BSE Oil & Gas index plunged 376.70 points to close at 6,397.58. Major losers are Cairn Ind (9.64%), BPCL (8.15%), Gail India (7.05 %), HPCL (6.85%), Reliance Petroleum (5.97%) and Reliance (5.83%).
The BSE Bank index lost 337.65 points to close at 5,504.58 as Bank of Baroda (8.53%), ICICI Bank (8.04%), Union Bank (7.73%), SBI (6.56%), Bank of India (6.41%) and Punjab National Bank (5.78%) in negative territory.
The BSE Capital Goods index closed lower by 336.49 points at 7,226.93. Losers are Areva (80.35%), Usha Martin (12.37%), Praj Industries (9.18%), ABB Ltd (8.26%), Gammon Indi (8.01%) and Suzlon Energy (7.16%).
The BSE Reality index ended down by 199.23 points at 2,433.70. Losers are Indiabull Real (12.75%), Phoenix Mill (12.42%), Anant Raj (11.63%), Unitech Ltd (9.87%), Parsvnath (8.98%) and Mahindra Life (7.41%).
The BSE FMCG index gained 12.20 points to close at 1,969.56 as United Spr (5.08%), ITC Ltd (1.04%), HUL (0.50%) and Colgate Palm (0.41%) ended in positive territory.
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