Markets ended lower Monday for the fourth straight session, slumping to fresh 2-year lows in intra-day trades,
after recent data vindicated that India's economic growth is slowing down.
The Sensex touched a fresh two-year low of 15,191 and the Nifty touched a low of 4,560, the lowest level for both indices since August 21, 2009.
The 30-share Sensex provisionally ended at 15,349 down 143 points or 1% and the 50-share Nifty provisionally ended at 4,613 down 38 points or 0.8%.
__________________________________________________________
Updated at 14:27 hrs
The markets continued to trade weak in late-noon trades, with the BSE Sensex having shed 247 points at 15,244 and the Nifty at 4,577, down 75 points.
Earlier in the day, the BSE benchmark index touched the day's low. Both the Sensex and Nifty registered their fresh 52-week low levels in the trades today.
ICICI Bank, L&T and Infosys are among the major draggers on the Sensex, accounting for a 85-odd points' loss.
BSE Realty, Bankex and Capital Goods indices are leading the losses, down nearly 4% each.
Among the Sensex 30 stocks, BHEL has shed nearly 5% at Rs 230. Other prominent losers from the pack are DLF, Larsen & Toubro, Jindal Steel and ICICI Bank, down 4% each.
Tata Motors, Coal India, Cipla and Hindustan Unilever are the prominent gainers from the pack, up 1-2% each.
Among individual stocks, Monnet Ispat has spurted 6% to Rs 363 on announcing buyback of its own equity shares. “The board of directors of the company will meet on December 22, 2011, to consider the proposal of buyback of its own shares,” the iron and steel intermediate products maker said in a filing to the stock exchanges.
Orchid Chemicals and Pharmaceuticals has tumbled 10% to Rs 122 on the back of huge volumes. The trading volumes on the counter have surged more than four times in today's session. In a filing to the stock exchanges, the company has announced that it has received sanction for $100 million by way of external commercial borrowings (ECBs) from the banking system to redeem outstanding foreign currency convertible bonds (FCCBs) of $117 million and yield-to-maturity when they fall in February 2012.
Jain Irrigation Systems has tumbled 7% to Rs 85.35 on persistent selling by investors after a major fire at its Jalgaon unit. The stock has been in a continous downtrend from Rs 115, after a major fire broke out in its plastic pipe stocking yard in Bambhori, Jalgaon, Maharashtra on December 10.
Pantaloon Retail (India) is trading higher by 1% to Rs 139 in an otherwise extremely weak market on reports that the government would explore the possibility of implementing the decision on foreign direct investment (FDI) in multi-brand retail through consultations with political parties after completion of Assembly elections in five states next year.
The overall market breadth is remarkably negative as 2,138 stocks have declined against 548 advancing ones, on the BSE.