Brokers said ''It was a lacklustre day for the markets, volumes were low. Technology, private banks, FMCG and capital goods stocks were the biggest culprits, dragging the Sensex and Nifty lower by more than 1 per cent''. The Sensex and Nifty index of the NSE were down by 519.47 points and 146.50 points respectively in the last four days.
European markets were trading lower. Key indices in UK, France and Germany were down by 0.36 per cent to 0.52 per cent. Asian markets were trading mostly in red today as Key indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were down by 0.32 per cent to 1.13 percent, which hit the Indian bourses, brokers pointed out.
US markets suffered sharp losses yesterday on worries about inflation and higher interest rates as oil jumped to a new record high. Financials stocks took a beating on concerns that new disclosure requirements for investment banks will limit their profits. The Dow Jones industrial average slumped 206.48 points, or 1.59 pc, to 12,814.35. The Nasdaq Composite index fell 44.82 points, or 1.80 pc, to 2,438.49. The S&P 500 shed 26 points at 1,393.
The 30-share BSE Sensex ended negative at 17,080.65 points, 258.66 points down from its last close. The index lost 301.28 points at day's low of 17,038.03, hit in early afternoon trade. Sensex lost 126.7 points at day's high of 17,212.61 hit in early trade.
The broader based S&P CNX Nifty index of NSE was quoted below 5100 barrier and closed lower at 5081.70 points with a loss of 53.80 points or 1.05 per cent against 5135.50 points on earlier close. Total market turnover was at Rs 47583 crore against Rs 54596 crore on Wednesday and Nifty futures turnover was at Rs 28944 crore against Rs 33564 crore on Wednesday.
The Sensex touched an intraday high 17,212.61 and low of 17,038.03, before closing the day at 17,080.65, down by 1.49 per cent. The Nifty Fifty ended at 5081.70, down 1.05 per cent or 53.8 points, hitting high/low of 5143.05 and 5062.45, respectively.
The CNX Midcap fell 0.94 per cent at 6959.15. The BSE Midcap and Small Cap indices ended at 7,153.43 and 8,689.04, fell by 0.67 pc and 0.44 pc, respectively.
Market breadth was negative, about 1211 shares advanced, 1698 shares declined, and 177 shares remained unchanged.
Major losers were ITC, Satyam, L&T and, Infosys, while gainers - Tata Comm, Tata Steel, Idea Cellular, Bharti Airtel, and ACC.
The BSE Bankex lost 2.9 pc or 261 points at 8,755.48 as selling pressure was seen in Kotak Mahindra Bank, Bank of Baroda, Bank of India, Axis Bank, Union Bank, Yes Bank and ICICI Bank.
Technology stocks like Mphasis, Satyam, Infosys, TCS, Wipro and Tech Mahindra crashed despite rupee depreciation, which hit USD 41.79 against per US dollar. Major reason was the first quarter numbers from Cognizant, which give the Q2 guidance below market expectations. Market expected 8-9 per cent, while the company guided only 5.7 pc. The BSE IT Index fell 2.69 pc or 119 points at 4,294.46.
FMCG stocks including ITC, United Breweries, P and G, Dabur India, Marico and Bata India were also down under selling pressure. The BSE FMCG Index was down 2.6 per cent to close at 2,445.12.
The BSE Capital Goods Index finished at 13,375.19, down 1.95 pc as selling pressure was seen in Jyoti Structure, Rel Ind Infra, Kirloskar Bros, Gammon India, Larsen, Kirloskar Oil and BHEL.
BSE Power Index lost 0.93 pc at 3,264.00. Power stocks like Reliance Petro, Power Grid Corp, Crompton Greaves, Tata Power, Suzlon Energy, CESC and NTPC closed in the red.
Realty stocks like Mahindra Life, Anant Raj Ind, Ansal Properties, Unitech, DLF and Omaxe collapsed, which pulled the BSE Realty Index down by 0.94 pc to close at 8,130.70.