Even the Nifty index of National Stock Exchange (NSE) tumbled over 158 points to 4,156.85 following the downtrend in the market. BSE Mid-cap and Small-cap indices were under heavy pressure with a fall over 2-2.5 per cent and all the sectoral indices were languishing in the red. Banking and auto stocks too hit badly on prevailing worries over high interest rates.
MaX India Ltd dropped 6.98 per cent to Rs 153.25, HDFC Bank fell 5.24 per cent to Rs 1,058.45, Bank of India declined by 6.43 pc to Rs 230, Tata Motors was down by 5.14 pc to Rs 489.45 and Mahindra&Mahindra declined 5.89 pc to Rs 520.10. They all led the negative rally in the early trade.
Marketmen expect a bad trading session ahead as the Asian markets are also under downward pressure and back home, the annual inflation data is awaited.