Sensex ends below 17K level, slips by 336.05 pts

Mumbai, May 22: The Bombay Stock sensitive index today slipped below 17K level, down by 336.05 points to close at 16,907.11, on negative global cues triggered by crude oil prices that hit fresh record high.

After resuming the day on a negative note, the benchmark Sensex remained languishing at lower levels, on profit booking interest across the sector. It touched a day's low 16,863.38, before closing the day with a negative gap of 1.95 per cent in the late trade. Meanwhile, the broader based Nifty index of National Stock Exchange tumbled 92.2 points or 1.8 per cent to settle at 5025.45, after touching a low of 5,010.70. All the sectoral indices ended the session in red on BSE.

Banking, realty, capital goods, auto and oil and gas were worst hit today, closing over two to three per cent low from their previous close, marketmen said, adding negative cues across the globe also created downward pressure on the Indian bourses. The BSE Midcap and Small indices slipped about 1.4 per cent each to close at 7,049.25 and 8,663.84, respectively. Market breadth was negative as about 1,144 shares advanced, 1,782 shares declined and 178 shares remained unchanged. The turnover on BSE was quoted at Rs 5,742 crore, lower than Rs 7,126.12 crore in the previous session. NSE's Futures &Options (F&O) segment turnover was Rs 45,076.17 crore, which was higher than Rs 39,481.17 crore a day before.

Banking stocks fell heavily as largest private sector lender ICICI Bank slipped by 3.39 per cent to Rs 880.40, followed by HDFC Bank, which declined by 2.4 per cent to Rs 1,379.90 and the largest public sector lender State Bank of India that declined by 3.28 per cent to Rs 1,607.

Realty stocks, Indiabulls Real Estate declined by 3.43 per cent to Rs 512.50, Unitech was down by 3.1 per cent to Rs 273.85 and DLF by 2.17 per cent to Rs 620.70.

Construction and engineering major Larsen&Toubro slid by 2.57 per cent to Rs 2,916.80, Bharat Heavy Electricals declined by 1.33 per cent to Rs 1,748.05 and Suzlon Energy ended down by 5.62 per cent to Rs 291.60.

Other index heavy weights, Reliance Industries declined by 1.89 per cent to Rs 2,617.35, Oil and Natural Gas Corporation (ONGC) declined by 1.53 per cent to Rs 924.35, Ranbaxy Laboratories declined by 1.14 per cent to Rs 498.25, Reliance Infrastructure was down by 3.97 per cent to Rs 1,322.95 and Reliance Communications was down by 3.16 per cent to Rs 584.65.

UNI