The markets today ended at the day's low, dragged by banking stocks.
The Sensex opened flat at 17,230 and touched a high of 17,249. Thereafter, the index was volatile and kept moving between zones. Towards the end of the day, the Sensex dropped sharply to a low of 16,998 - down 251 points from the day's high.
The Sensex finally ended with a loss of 214 points at 17,009.
The NSE Nifty ended down 51 points at 5,064.
The BSE auto and FMCG indices slipped the most. While the former shed 2.36%, the latter was down 2.06%. The BSE Bankex dropped 2% to 10,310 following a proposed new interest rate system which raised concerns of increasing competition among banks.
INDEX SHAKERS...
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Tata Steel shed 4.3% to Rs 551. Jaiprakas Associates and Tata Motors dropped 4.5 each to Rs 254 nd Rs 556, respectively.
SBI and HDFC slipped 3.5% each to Rs 2,381 and Rs 2,682, respectively. ITC, Maruti Suzuki, Grasim and Hindustan Unilever also declined.
Other draggers included Mahindra & Mahindra, ICICI Bank, Sterlite and HDFC Bank.
...AND MOVERS
IT stocks gained on a declining rupee. TCS gained 2% at rs 633. Infosys, Tata Power and Bharti Airtel added over 1% each to Rs 2,211, Rs 1,430 and Rs 332, respectively.
The market breadth was negative. Out of 2,835 stocks traded, 1,564 declined while 1,178 advanced.
VALUE & VOLUME TOPPERS...
DLF topped the value chart with a turnover of Rs 1,038.98 crore on the BSE and NSE. It was followed by SBI (Rs 694.14 crore), Unitech (Rs 692.58 crore), Reliance (Rs 690.03 crore) and Bharti Airtel (Rs 657.68 crore).
The volume chart was led by Unitech with trades of nearly 65 million shares, followed by Ispat Industries (45.22 million), GVK Power & Infrastructure (26.65 million), Jaiprakash Associates (23.89 million) and Bharti Airtel (19.76 million).