The Sensex resumed slightly up at 20,032.67 from its previous close of 20,030.83, in early trade, but failed to move up and started falling on heavy profit bookings in major stocks. It touched a day's low of 19, 117.19 and lost 855.48 point from the day's high in late trade. Similarly, Nifty index at National Stock Exchange (NSE) fell 270 points, 4.48 per cent down, to close at 5,777.00 in late trade.
Nifty fell by about 300 points to day's low of 5,740.60 from its high of 6,039.95 before closing on weak note during the day trade. Metal, realty and power stocks were down sharply in late trade.
Capital goods and banking stocks declined heavily. Reliance Industries also declined sharply. The market breadth turned negative in late trade in contrast to strong breadth earlier during the day. All the sectoral indices on BSE were in red, traders said.
European markets were weak even as Asian markets were trading lower today. US stocks slumped on Friday, on concerns of surging inflation. Market breadth was weak. On BSE, 1,007 stocks advanced, 1,896 stocks declined and 24 stocks remained unchanged. 29 out of 30 stocks from the Sensex pack declined. BSE clocked a turnover of Rs 9524 crore as compared to the previous turnover of Rs 9,480.42 crore.
BSE Mid-Cap index declined by 3.87 pc. It hit all time high of 9, 541.03 today. BSE Small-Cap index declined 2.91 to 11871.77. It hit a record high of 12,402.86 today.
Reliance Industries declined by 4.02 per cent to Rs 2,773. Metal stocks slumped as Tata Steel came down 6.83pc to Rs 823.85, Sterlite Industries was down 8.45pc to Rs 976.15, National Aluminium Company fell 6.87pc to Rs 418.50 and Hindalco industries was down 5.69 pc to Rs 200.65.
Steel Authority of India (SAIL) fell7.2 pc to Rs 259.75 on reports the company planned to enter the equipment manufacturing business to profit from the boom in the domestic steel sector.
Reliance Communications declined 5.15 pc to Rs 720.80 after the company today said it has completed the acquisition of US-based Yipes Holdings that would give it access to a Rs 4,00,000 crore global enterprise data market.
Capital goods stocks declined. Bharat Heavy Electricals was down 5.32pc to Rs 2,425.25 after it announced that it has signed a joint venture agreement with NTPC for establishment and operation of joint venture company for engineering, procurement and construction (EPC) business.
Larsen&Toubro was down 2.2pc to Rs 4,082.10 and Suzlon Energy declined 6.67pc to Rs 1,828.10.
Tata Motors declined 5.8pc to Rs 701.25 on reports that Ford Motor Company is poised to name the company as preferred bidder for its Jaguar and Land Rover brands.
Banking stocks declined by 3 to 4 per cent in late trade. ICICI Bank slipped 3.29pc to Rs 1,167.10, HDFC Bank came down 2.91pc to Rs 1,678.30, State-run State Bank of India fell 3.98 pc to Rs 2,314.50 on reports the bank is planning to buy an Indonesian bank.
Power stocks declined. Reliance Energy was down 4.22pc to Rs 1,828.95), NTPC declined 7.3pc to Rs 228.60, Tata Power Company was marginally down 0.39pc to Rs 1,295.90 and Power Grid corporation by 5.56pc to Rs 137.55 were among the major losers in this segment.
Realty stocks like Peninsula Land was down 8.5pc to Rs 135.05, DLF came down by 7.53pc to Rs 944.25, Indiabulls Real Estate declined 8.26pc to Rs 679.25 and Unitech fell 2.72 pc to Rs 465.35.