However, both the indices showed smart recovery in the second half of the trade but there was huge volatility. The recovery was led by technology and banking stocks.
The 30-share BSE Sensex closed at 13,400.32, down 0.77 pc or 103.90 points, after seeing a recovery of 180 points from an intraday low of 13,219.99. The 50-share NSE Nifty fell 0.75 pc or 29.85 points, to settle at 3,974.05, after a recovery of 55 points from day's low of 3,918.75.
The broader indices underperformed the benchmark indices on the back of heavy sell-off in sugar, fertiliser, textile and railway stocks, which had seen a rally before the budget. The BSE Midcap Index was down 2.84 pc or 133.98 points, to 4,584.61 and the Smallcap Index lost 3.38 pc or 176.80 points, to 5,057.70.
Mkts continue -ve; Nifty down by 63 pts
At 01:03 pm the sell-off across the sectors barring technology, pharma and select financials was putting relentless pressure on the benchmark indices. Major selling was seen in capital goods, power, metal and realty stocks.
Reliance Industries, DLF, L&T, Jindal Steel, SAIL, L&T, ICICI Bank, Maruti, Bharti, Reliance Infrastructure, Tata Steel, Nalco, M&M, Idea, Siemens, BHEL and ABB, were negative contributors, down about 1-8 pc. However, Infosys, Wipro, GAIL, Sun Pharma, Cipla, HCL Tech, TCS and HDFC were only gainers.
The Nifty was down 63 points, to 3,939 and the Sensex tanked 218 points, to 13,285. The BSE Midcap and Smallcap indices plunged 4 pc each, as about 495 shares advanced while 2185 shares declined on the BSE. Nearly 477 shares were unchanged.
On the sectoral front, BSE Realty Index lost over 6% and Metal Index fell 5 pc. Auto, Capital Goods, Power and Oil & Gas indices declined 2-5 pc. Bank and Healthcare indices fell 1-1.8 pc.
Mkts negative; Tata, RIL, Siemens slip
At 10:51 am, the markets continued to see selling pressure on the back of downtrend in capital goods, power, metal, telecom, cement, realty, auto and banking stocks along with Reliance Industries. The Nifty was hovering around the 3950 level.
However, there was a bit of support to the markets from ONGC, Infosys, Sun Pharma, Cipla and HCL Tech, which gained 1.5-3 pc. The Sensex was down 181 points, to 13,322 and the Nity slipped 52 points, to 3,951. The broader indices slipped 2.5-3pc.
Top losers were Tata Steel was at Rs 337.25, down 4.57 pc; Tata Power was at Rs 1,020.80, down 4.27pc; Jaiprakash Associates was at Rs 178.55, down 4.13 pc; Maruti Suzuki was at Rs 1,066.10, down 3.49 pc; Reliance Infrastructure was at Rs 997.90, down 3.06 pc; NALCO was at Rs 252.95, down 7.28 pc; Siemens was at Rs 390.90, down 4.82 pc; Suzlon Energy was at Rs 79.60, down 4.38 pc and ABB was at Rs 662.60, down 4.26 pc.
All sectoral indices were in the red barring IT; Realty, Metal, Capital Goods, Power and Auto indices declined 2.3-3.6 pc. Bank and Oil & Gas fell 1.4 pc each. However, IT Index gained 0.5%.
In the midcap space, REI Six Ten, BF Utilities, Alstom Projects, Peninsula Land and Triveni Engg were down 7-11.4 pc. In the smallcap space, Ador Welding, Sanghi Industries, Anus Labs, Gammon India and Balkrishna Industries fell 10-12 pc.
Mkts open weak; Sensex down by 206 pts
The markets opened sharply lower on the first day of the week following negative Asian cues. Realty, capital goods, metal, telecom and power stocks were under pressure. The Nifty was hovering around the 3950 level.
At 9:56 am, the Sensex lost 206 points, to 13,299 and the Nifty fell 56 points, to 3,947. The CNX Midcap slipped 73 points, to 5,078 and the BSE Smallcap Index was down 90 points, to 5,144. About 106 shares advanced while 576 shares declined on the NSE.
Among the frontliners, Unitech, Reliance Capital, Reliance Communication, Idea, Siemens, ITC, Reliance Power, SAIL, DLF, Tata Steel, Nalco, L&T, Grasim and Hindalco were the losers.
However, Sun Pharma gained 2%, as the company was in pact with Forest Lab to settle Escitalopram dispute. Infosys was up 1.5% on the good quarterly earnings.