National Stock Exchange Nifty closed the day 77 points lower. Sensex was also plunged by 240 points as metal, banking, oil & gas and power and realty being the main losers. The respective indices nosedived 1 to 2.7 percent. Sensex had gained around 200 points in the previous session.
The lose in Asian markets and a lower opening in Europe further added to the downtrend of the Benchmarks.
ICICI Bank, HDFC Bank, Axis Bank and HDFC were down by 1.7 to 2.5 percent. SAIL, Tata Steel, Hindalco and Jindal Steel which declined 2.6 to 4.3 percent, also affected the markets. Sterlite Industries lose by 1.4 percent.
Reliance Industries went down 2 percent on profit booking. ONGC and GAIL were flat in trade. M&M plunged 1.4 percent. ITC was down 0.4 percent. Ambuja cements went down 3.3 percent and Ranbaxy Labs, Sun Pharma and Cipla plummeted 1.5 to 2.2 percent.
Reliance Communications went down by 4 percent in the telecom segment and Idea Cellular slipped 2.4 percent. Bharti Airtel also went flat.
The top gainers were GTN Industries, Eurotex and Rasi Electrodes which gained 20 percent each. TVS Motor, JM Financial, ING Vysya Bank and IBN18 Broadcast also gained by 5 to 8 percent in the Midcap space.
Benchmarks southbound; IDFC gained
At 2:20 hrs, BSE Sensex was 17,490.10 down 284.16 points and NSE Nifty was 5246.55 down 86.95 points. Both the benchmarks traded lower, as all sectors retreated in trade.
Metal, realty, oil & gas, banks, power and telecom shares plunged by 1 to 2.7 percent.
The only gainer on Nifty was IDFC.
The top losers include Hindalco which nosedived by 4.81 percent, Tata Steel down 3.62 percent, SAIL down 3.42 percent, Reliance Communications down 3.41 percent and Jindal Steel down 3.18 percent.
In the midcap space, BGR Energy, IBN18 Broadcast, Pfizer and TVS Motor went up 3.7 to 6 percent.
Markets nosedive; Nifty below 5300 points
At 12:10 hrs, BSE Sensex was 17,597.75 down 176.51 points and NSE Nifty was 5276.75 down 56.75 points.
Nifty continued the journey southbound, below 5300 points and all the sectors witnessed selling pressure.
The main losers were Metal, oil & gas, banking, power and technology companies. They nose dived 0.8 to 1.4 percent.
The top losers in trade were Hindalco down 3.68 percent, SAIL down 3.29 percent, Reliance Capital down 2.47 percent, BPCL down 2.33 percent, Tata Steel down 2.29 percent, HDFC down 1.68 percent, HDFC Bank down 1.65 percent, Jindal Steel down 1.61 percent and Reliance Infra down 1.5 percent.
The broader indices also plummeted. 528 shares advanced where as 712 shares declined on NSE.
The most active shares were that of SBI, Oil India, Reliance Infra, Reliance Industries, Mahindra Satyam, Tata Steel and L&T.
Benchmarks plummet; oil & gas declines
At 9:30 hrs, BSE Sensex was 17,681.4 down 92.85 points and NSE Nifty was 5300.35 down 33.15 points.
Benchmarks Nifty and Sensex started the day in red. Asian markets were trading in red.
The frontliners including Reliance Industries, ICICI Bank, PNB, HDFC Bank, HDFC, IDFC, Tata Steel, Unitech, DLF, ONGC, Infosys and Jaiprakash Associates were flat in trade.
Wipro, Maruti, Power Grid, Reliance Power, Reliance Infrastructure and Tata Power witnessed buying in the market.
The broader indices all plunged down. AstraZenca went up by 20 percent and Sulzer, was up by 3.7 percent.