Sensex tumbles by 385.61 pts on selling pressure

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Mumbai, Feb 22: The benchmark sensitive index of the Bombay Stock Exchange today plunged by another 385.61 points to close at 17,349.07, extending the losses for the second consecutive day on profit booking interest in blue-chips.

The Sensex resumed the session with a negative gap of 219 points at 17,515.62 from its previous close of 17,734.68 on sustained off-loadings of shares, triggered by weak sentiments in the global market. It further lost ground to touch the day's low at 17,294.73, dropped 440 points on fresh round of selling pressue in the afternoon trade and ultimately settled after a slight recovery in late trade.

Meanwhile, the broader based Nifty dropped 99 points on the National Stock Exchange to touch a low at 5,092.80 from its previous close of 5191.80, before ending the session 81.05 points down at 5110.75, reflecting the same sentiments.

The market tumbled today as blue chips came under renewed selling pressure following weak sentiments in European and Asian markets. Banking, IT and auto scrips were the worst hit today, pulling down the bourses into deep red, brokers said.

Most of the sectoral indices ended up with negative gaps on BSE.

Mid-cap and Small-cap were down by about one per cent.

Top losers's list today included Reliance Capital, down by 5.09 pc at Rs 1,901.95, followed by HDFC down 4.40 pc at Rs 1,474.95, ICICI slipped 3.89 pc, Bajaj Auto lost 4.78 pc and Satyam further shed 4.23 per cent.
The market breadth was weak throughout the day. 27 stocks from the 30-member Sensex pack were in the red. The total turnover on BSE amounted to Rs 4451 crore as compared to Rs 5,410.60 crore yesterday. Turnover in NSE futures&options slipped to Rs 36386.23 crore as compared to Rs 43409.74 crore in the previous session.

Reliance Industries (RIL) lost 2.90 pc to Rs 2429. Mahindra&Mahindra came down 1.96 pc, Hero Honda Motors was down 1.47 pc and Tata Motors shed 1.97 pc.

However, Maruti Suzuki India rose 0.43 pc, while Cipla surged 5.44pc to Rs 198.60 on 4.24 lakh shares. It was the top gainer from the Sensex pack.

Indiabulls Financial Services declined 3.11 pc to Rs 616.60 even as the company today reported that it has received approval from the Securities and Exchange Board of India to set up an asset management company.


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