The Sensex opened 83 points higher at 13,601,but soon slipped in the red as investors pressed heavy sales in bank stocks after the Reserve Bank yesterday hiked interest rate on FCNR (B) and NR(E)RA deposits and expanded the liquidity adjustment facility scheme.
The index moved in a range of 493 points between 13,128 (low) and 13,621 (high) before finally settling with a loss of 256 points at 13,263.
The market breadth was negative - out of 2712 stocks traded, 1740 declined, 886 advanced and 86 were unchanged today.
The NSE Nifty dropped 66 points to settle at 4008.
Sterlite slumped 8% to Rs 439. Ranbaxy plunged 6.6% to Rs 379. ICICI Bank lost 5.3% to Rs 560.
ITC shed 5% at Rs 184. HDFC Bank tumbled 3.7% to Rs 1,184.
SBI dropped 3.6% to Rs 1,528. DLF slipped 3.3% to Rs 408.
Reliance and TCS declined 2.8% each to Rs 1,873 and Rs 728, respectively.
Tata Steel was down 2.6% to Rs 475.
Jaiprakash Associates and Reliance Communications lost 2.3% each to Rs 136 and Rs 358, respectively .
Satyam declined 1.9% to Rs 350. Reliance Infrastructure, Grasim, BHEL and HDFC lost around 1.7% each at Rs 830, Rs 1,895, Rs 1,621 and Rs 2,146, respectively.
Hindalco, Hindustan Unilever and NTPC were the other losers today.
Tata Motors surged 4.8% to Rs 418. ONGC advanced 2.8% at Rs 979. Wipro gained 2% at Rs 399.
ACC was up 1.7% to Rs 592. Infosys, Maruti and Mahindra & Mahindra are the other gainers.
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