The Greece crisis continued to weigh heavily on investor sentiments. However, there is a glimmer of hope as the European Parliament has voted favourably for the bailout package.
Sustained selling by foreign institutional investors also dampened the mood. FIIs have so far sold shares worth Rs 8,368 crore this month.
The Sensex opened the week at 16,962 but recovered some of its losses on Tuesday. The index touched the week's high at 17,000 on positive cues from the European stocks. However, Wednesday saw markets worldwide falling again as Germany banned shorting of certain financial instruments, including shares of ten German financial companies.
The Sensex, thereafter, extended losses and touched a low of 16,187 on Friday - down 813 points (4.8%) from the week's high. The index finally ended with a loss of 549 points (3.2%) at 16,446.
BSE mid and smll-cap indices underperformed the broader markets. Mid-cap index dropped 3.6% to 6,688. Small-cap index tumbled 4.5% to 8,415.
All the sectoral indices, barring capital goods, ended in red. Metal stocks slumped 6.5% to 14,860 on a fall in metal prices in the LME. Auto, bankex and IT indices were down 4-5% each.
Tata Motors tanked 13% to Rs 710. Realty stocks were big losers with DLF and Jaiprakash Associates tumbling around 9% each to Rs 269 and Rs 118, respectively.
Sterlite slumped 8.5% to Rs 642. Other metal stocks - Hindalco and Tata Steel - slumped 7% each.
Market heavyweight, Reliance, slipped 4.6% to Rs 996. Reliance Communications too tumbled nearly 8% to Rs 133.
ICICI Bank was down 8.5% at Rs 834. HDFC Bank slipped 6.5% to Rs 1,825. However, SBI added 2% to Rs 2,272.
Other losers included cement stocks - Grasim, ACC; IT stocks - TCS, Wipro and some auto stocks - M&M, Maruti Suzuki and Hero Honda.
However, Larsen & Toubro jumped 5% to Rs 1,608 on a good Q4 numbers. The net profit of the company jumped 90% to Rs 1,438 crore in Q4FY10 as against Rs 758 crore in the corresponding quarter in the previous financial year.
ONGC, boosted by the hike in APM prices, was up 4.5% at Rs 1,092. ITC added 1.2% on declaring results on Friday. The FMCG major reported a 27 per cent increase in post-tax profit to Rs 1,028 crore for the quarter ended March, compared to Rs 809 crore over the same period last year.
