Markets drop on global cues

Markets today ended with a loss on global cues and a late bout of profit taking.

The Sensex today opened soft, mirroring trends in Asian and US markets. Metal sector dragged bourses lower in noon trades. Therafter, the index tried to recover.

However, the recovery was shortlived and the Sensex slumped sharply to a low of 17,725 as European bourses dropped. The Sensex finally ended near the day's low at 17,749 - down 127 points.

The Nifty ended at 5,317 - with a loss of 37 points.

Yesterday's star, the BSE metal index, dropped 2% to 15,289. IT and Bankex dropped around 1% each. However, the consumer durables index added 1% to 4,571.

Sterlite, after yesterday's stellar performance, dropped 2.6% to Rs 179. Jindal Steel and Tata Steel dropped 2% each to Rs 672 and Rs 494, respectively. Hindalco was down 1.3% at Rs 151.

ACC and Jaiprakash Associates shed 2.3% each to Rs 861 and Rs 130, respectively.

Wipro slipped 1.8% to Rs 407. SBI, Tata Motors, Infosys, Reliance Infrastructure and Bharti Airtel slipped around 1% each.

BHEL, Cipla, TCS and ICICI Bank were the other top losers.

However, FMCG stocks bucked the trend. Hindustan Unilever gained 1.2% to Rs 262. ITC was up 1% at Rs 302.

BSE market breadth was marginally negative. Out of 2,982 stocks traded, 1,543 declined while 1,323 advanced.

VALUE TOPPERS..

Yes Bank topped the value chart with a turnover of Rs 1,111.95 cr, followed by Tata Steel (Rs 99.62 cr), Sesa Goa (Rs 97.28 cr), RNRL (Rs 72.35 cr) and Reliance (Rs 60.08 cr).