The 30-share Sensex went down 1.77 per cent or 257.31 points, to close at 14,265.53 and the NSE Nifty 50 closed at 4251.40, down 2.4 per cent or 104.75 points. BSE Midcap Index fell 144.21 points or 2.87 per cent, to 4,876.86 and the Smallcap Index dipped 3.7 per cent or 214.10 points, to shut shop at 5,572.44.
While ONGC, NTPC, SAIL, Tata Steel, BHEL, L&T, ICICI Bank and Reliance Communication were the negative contributors to the markets, SBI, Bharti, Infosys, Hero Honda, Axis Bank, Sun Pharma, Tata Motors, BPCL and PNB supported the markets.
Mkts -ve; benchmarks & broader indices slip
At 1:43 pm, the Sensex was down 286 points, to 14,236, and the Nifty was down 121 points at 4,235. The markets went down again after recovering. The broader indices, BSE Midcap & Smallcap index lost 4 per cent each.
Realty, metal, power, oil & gas, cement and capital goods stocks witnessed selling pressure.
ACC at Rs 755, down 8.66 per cent; Jaiprakash Associates at Rs 188.30, down 8.19 per cent; Tata Steel at Rs 385.80, down 7.48 per cent; Hindalco at Rs 87, down 7.25 per cent; DLF at Rs 313, down 6.09 per cent; Unitech at Rs 74.95, down 10.77 per cent; Power Grid Corp at Rs 108.60, down 8.78 per cent and Suzlon Energy at Rs 102.55, down 8.6 per cent were top losers.
NTPC, ONGC, Reliance Industries, SAIL, ICICI Bank, L&T, HDFC and HDFC Bank were the draggers on the markets.
The losers among the midcaps were Aban Offshore, HDIL, Bajaj Holdings, Punj Lloyd and Indiabulls Real while Ajmera Realty, Revathi CP, Everonn Systems and Network 18 slipped in the small cap space.
Among the sectors BSE Realty Index plunged 8 per cent and Metal dipped 5.7 per cent. Power Index slipped 4.6 per cent and Capital Goods went down 3.8 per cent. Oil & Gas Index declined 2.8 per cent. Auto, Bank, Healthcare and TECk indices lost 1-1.5 per cent. IT Index was up just 0.3 per cent.
2: 28 PM
Mkts choppy; selling in HDFC, Tata Steel, ONGC
At 10:53 am, the Sensex was down 8 points, to 14,514 and the Nifty fell 14 points, to 4,342. The BSE Midcap lost 0.4 per cent and Smallcap Index fell 1 per cent.
The markets were choppy after recovering from the opening's low. The recovery was carried on by SBI, Reliance Industries, Infosys, DLF, Sterlite, Tata Motors, Reliance Infrastructure, Wipro, Bharti, Reliance Communication, TCS and HUL.
Selling, however, went on in ONGC, NTPC, BHEL, HDFC Bank, Jindal Steel, SAIL, Tata Steel, L&T, Ambuja Cements, ACC, Grasim, Maruti, Unitech, Idea and HDFC, which was weighing on the markets.
According to media reports, SpiceJet surged 6 per cent, due to the raise in fuel surcharge of Rs 400 per ticket. Spice Communications gained 1.5 per cent, as the company paid a debt of Ts 316 crore. The Hindustan Zinc cut zinc prices and its stock was trading flat.
Mkts open low; RIL, HDFC, L&T, Hero Honda lose
At 9:57 am, the Nifty went down by 4.75 points, to 4,351 and the Sensex fell by 28 points, to 14,494. However, the CNX Midcap surged 12 points, to 5,353 and the Nifty Junior went up 20 points, to 7,727.
Even though the markets opened lower, it quickly recovered the losses. The markets are volatile.
The losers among the frontliners are HDFC Bank, L&T, ONGC, Hero Honda, Ranbaxy, Power Grid, Reliance Industries, BPCL and ACC.
The markets were gaining support from the buying witnessed by Reliance Infrastructure, Cairn, Suzlon, DLF, SBI, NTPC, Bharti, Infosys, TCS, ICICI Bank, SAIL and Tata Motors.
In the midcap space, going up 1 to 5 per cent, Alok Industries, Jayshree Tea, Mcleod Russel, Balrampur Chini, TTML, Bajaj Hindusthan, Glenmark, Fortis Healthcare and Wockhardt proved to be the gainers. However, Hotel Leela dipped 5 per cent.
The Asian markets were trading weak.