The BSE Sensex shed 156.44 points or 0.97 per cent, to settle at 15,896.28. The 50-share NSE Nifty lost 0.82 per cent or 38.85 points, to close at 4711.70. The benchmark indices plunged 5.44 per cent and 5.7 per cent in the week, respectively.
Aftet the stopping of the 2G spectrum allocation by DoT, Telecom stocks began the downtrend.
Sell-off was seen in shares of oil & gas exploration, telecom, power (barring NTPC), capital goods, FMCG and select technology companies. However, buying in auto, cement, select banking and metal stocks marginally capped the losses.
4: 31 PM
IT, telecom, capital goods drag Sensex into red
Sell-off in telecom, technology, private power, capital goods and oil & gas exploration companies' shares has managed to pushed the Sensex back into the red zone and wipe out all its early gains. The markets are currently trading amid volatility.
However, on a positive note, continuous buying in metal, auto, banking & financial, realty and cement stocks limited the losses.
At 1: 55 pm, Nifty was trading at 4703, down 47 points while the Sensex was trading at 15,863.84, down 188.88 points.
Among the midcaps,Nirma continued to gain and was up 10 per cent. Among ther gainers were Bombay Rayon, Shriram City, Amtek Auto, Apollo Tyres up 5 to 7 per cent.
In the smallcaps, Nagarjuna Agric, Alkali Metals, AurionPro Sol, Shrenuj and Co, Firstsource Sol gained 9 to 14 per cent while Munjal Showa, Genus Power, Dewan Housing, Diamond Cables & Panacea Biotec lost 9 to 14 per cent.
2: 14 PM
Realty, banks, auto helping mkts trade higher
While the markets were weighed down by the sell off in Reliance Industries and Bharati Airtel after the quarterly results, the markets were gaining strength from rate sensitives, realty, banks and auto stocks.
At 11: 57 am, Sensex was up 186.60 points or 1.16 per cent at 16239.32, and the Nifty was up 67.65 points or 1.42 per cent at 4818.20. Except Oil and Gas, all the BSE sectoral indices were trading in the green.
The broader indices too bounces back, Midcaps and Smallcaps gained 3 per cent.
The top gainers were Sterlite Industries, Hindalco, Grasim, DLF, Tata Steel, State Bank Of India up 4 to 75 pc. However, Tata Power, Reliance Industries, Sun Pharma and ONGC were down by 0.1 to 1.6 per cent.
Among the midcaps, Nirma was the top gainer surging 13 per cent. Amtek Auto, Shriram City, Indiabulls Real & National Fertilisers gained 7 to 8 per cent each. However, Shipping Corp, AstraZeneca, IOB, 3M India & Aurobindo Pharma were down 0.5 to 3 per cent.
In the smallcap arena, Nagarjuna Agric, Money Matters, Alkali Metals, Shrenuj and Co & AurionPro Sol shot up on double digit gains while Munjal Showa, Diamond Cables, Panacea Biotec, PVP Ventures & Hind Nat Glass were on the losing side.
12: 33 PM
Mkts open +ve on strong global cues and buying
The US markets which witnessed best one-day percentage gain in three months pulled up Asian markets and Indian markets. On strong global cues, the Indian markets opened the day on a positive note after witnessing downtrend since four days.
At 10:01 am, NSE Nifty shot up 101 points to 4,852 and BSE Sensex gained 299 points at 16,351. The CNX Midcap went up 155 points to 6,732.
Buying was seen across all the sectors.
The gainers among the frontliners were DLF, Unitech, Sterlite, Tata Steel, SAIL, ICICI Bank, HDFC Bank, Jaiprakash Associates, IDFC, Suzlon Energy, Bharti Airtel, and Grasim.
Index heavyweight Reliance Industries gained 0.7 per cent after Q2 numbers.
However, selling was seen in ONGC and BPCL. And after the massive fire at a fire depor in Jaipur, IOC plunged 3 per cent.
Among the midcaps, Bajaj Hindusthan and Balrampur Chini went up 3 per cent each. Gaining for the second day PNB Gilts shot up 7 per cent. Mahindra Satyam surged 6 per cent while Rolta and Aptech went up 4 per cent each.
Among other gainers, Alok Industries shot up 3 per cent, Britannia and Colgate went up 1 per cent and JSL gained 5 per cent. However, Bank of India and Zee News fell 3 per cent each.
10: 19 AM