While BSE Sensex shut shop at 16,781.07, down 336.62 points, NSE Nifty ended at 5034.00, down 101.50. Among all the sectoral indices which ended in the negative zone, metal and realty sectors were the biggest losers wit the respective indices slipping almost 4 per cent.
On the positive side, four stocks traded in the green. While Reliance Communications surged 4.8 per cent on company board's approval for 26 per cent stake sale. Ambuja Cements, ACC and Kotak Mahindra Bank were the other gainers.
European markets were trading 0.2 to 0.5 per cent lower at the time of closing of Indian markets. The American stock exchanges were also trading in troubled waters in response to the disappointing jobs data.
4: 48 PM
Sensex down 300 points; Reliance Comm, HDFC gain
At 14:20 pm, BSE Sensex was 16,785.72, down 331.97 points and NSE Nifty was 5037.10, down 98.40 points. BSE Sensex plunged.Nifty June Future was also going low by 14 points. All sectoral indices went red.
Metal and realty indices plummeted by 3.7 percent. Oil and Gas, IT, Auto, Capital Goods, Power and Bank indices lost 1.7 to 2 percent.
Reliance Communications, HDFC Bank and Ambuja Cements traded green on the Nifty. Tata Steel, SBI, Reliance Industries, Tata Motors, Sesa Goa and ICICI Bank were the other active shares on the stock market.
Mkts suffer weak global cues, Sensex tanks 400 pts
Weak global cues and debt fears from PIIGS (Portugal, Ireland, Italy, Greece, and Spain) to other Eurozone countries as well as the disappointing US jobs data continue to weigh on the Indian indices.
At 11:50 am, BSE Sensex was trading at 16,715.69, down 402.00 and NSE Nifty was at 5009.30, down 126.20 points.
Adding to the Eurozone fears, there are reports that there was a possible default by Hungary too.
DLF down 5.34 per cent, Hindalco down 4.91 per cent; Tata Motors down 3.95 per cent; Sterlite Inds down 3.93 per cent; Cairn India down 3.8 per cent and Tata Steel down 3.24 per cent were the top losers.
On the positive side, Reliance Communications continued its upward trend, up nearly 1 per cent.
Euro debt woes continue to haunt Indian mkts
Eurozone debt fears continued to haunting the Indian markets, which opened the day more than 100 points gap down. The indices were also hit by several other negative factors such as fall in commodities and unsatisfactory American jobs data.
At 9: 30 am, BSE Sensex was at 16,753.48, down 364.21 points, and NSE Nifty was at 5022.40, down 113.10 points.
The early frontline losers were Hindalco, Sterlite Industries, Tata Steel, Jaiprakash Associates, DLF, Unitech, Cairn, Tata Motors, Jindal Steel & Power, Reliance Infrastructure, Reliance Capital, ICICI Bank and IDFC.
However, there were some stocks in the green zone. Reliance Communications was up 5 per cent, on the company board's nod for up to 26 per cent stake sale and the company would be inducting strategic / private equity investors.
The CNX Midcap also declined 171 points to 7718 in the opening trade and the BSE Smallcap slipped 146 points to 8493. Among the midcaps and smallcaps, IVRCL Infra, Punj Lloyd and Lanco Infra fell 4 to 5 per cent. Gujarat NRE Coke tumbled 5 per cent and HDIL was down 4 per cent. JM Financial dipped 4.6 per cent.