The Sensex opened 25 points lower at 9,205. After the initial nervousness the index rebounded into the positive zone and rallied to a high of 9,341. The index, however, could not hold gains and slipped back into the negative zone.
The selling pressure intensified in mid-noon trades mainly on account of significant weakness in technology, realty and energy stocks. The index tumbled to a low of 8,915 - down 427 points from the day's high.
The Sensex finally ended with a loss of 265 points at 8,965 today. In the process, the index ended the week with a loss of 128 points.
The BSE IT index shed 4.4% at 2,357. The Realty and Metal index plunged 3.5% each to 1,692 and 4,640, respectively. The Oil & Gas index dropped 3.3% to 5,495.
The market breadth was marginally negative - out of 2,156 stocks traded, 1,099 declined, 986 advanced and the rest were unchanged.
Jaiprakash Associates slumped 6.6% to Rs 66. TCS and Infosys plunged 5% each to Rs 522 and Rs 1,136, respectively.
DLF, HDFC, Hindalco and Sterlite tumbled nearly 5% each to Rs 203, Rs 1,436, Rs 50 and Rs 245, respectively.
Reliance and Satyam shed 3.5% each at Rs 1,119 and Rs 224, respectively.
ONGC, Bharti Airtel and SBI slipped nearly 3% each to Rs 655, Rs 665 and Rs 1,136, respectively.
HDFC Bank, ITC, Larsen & Toubro, Tata Steel and Reliance Infrastructure dropped around 2.5% each to Rs 889, Rs 169, Rs 729, Rs 183 and Rs 532, respectively.
Wipro, Tata Power and NTPC declined over 2% each to Rs 227, Rs 669 and Rs 161, respectively.
ICICI Bank and BHEL were down 1.5% each at Rs 358 and Rs 1,339, respectively.
Tata Motors advanced 1.5% to Rs 153. Grasim added 1% to Rs 938.
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