Market benchmark Sensex managed to keep its head above 25,000-level, but extended losses to a sixth straight session today by taking a hit of 274.28 points as investors grew increasingly worried about a possible delay in the key tax reform bill amid sustained foreign fund outflows.
The NSE Nifty, however, cracked below the 7,700-mark as a muted trend in global markets also didn't help.
Despite some stock specific action, profit-booking was the order of the day as investors mind lingered in a state of uncertainty as the Parliament business was hurt for a second day with the Opposition, Congress, holding noisy protests on the National Herald Case.
"Logjam in Parliament is creating a hiccup in the Indian market since GST is expected to be passed in the Winter Session," Vinod Nair Head-Fundamental Research at Geojit BNP Paribas Financial Services.
Participants also blamed the foreign investors, who are continuously reducing their exposure in emerging markets in a run up to the first interest hike by the US Federal Reserve in nearly a decade.
The 30-share Sensex fell 274.28 points or 1.08 per cent to close at 25,036.05, its weakest closing since September 7. During the day, it hovered between 25,012.22 and 25,316.95.
The index has now lost 1,133.36 points in six sessions.
The broader NSE Nifty went below its crucial level of 7,700-mark by tumbling 89.20 points or 1.16 per cent to close at 7,612.50.
Of the 30-share Sensex pack, 25 dropped while five led by BHEL, TCS and ITC, ended higher.
Sectoral indices, metal, healthcare, oil&gas, auto and realty were among the worst hit.
Metal space stocks bore the brunt with Vedanta, Tata Steel and Hindalco falling up to 5.57 per cent, dragging down the the sectoral index by 3.07 per cent.
The broader markets too felt the heat, with BSE small-cap and mid-cap indices falling 2.24 per cent and 1.76 per cent, respectively.
Asian stocks traded negative as China's struggled with its latest consumer price inflation data leading to further slowdown. Key indices in Asia, like China rose 0.07 per cent while, Hong Kong, Japan, South Korea, Singapore and Taiwan moved down between 0.04 per cent and 1.37 per cent.
Europe was also down with indices in France and Germany falling by 0.43 per cent 0.74 per cent, respectively, while the UK index managed to edge up.
Back home, 20 scrips out of the 30-share sensex pack ended
lower while.
Major losers were, Coal India (4.38 pc), Tata Motors (4.12 pc), TCS (3.68 pc), Dr Reddy's (3.61 pc), Infosys (3.46 pc), SBI (2.94 pct), Maruti (2.07 pc), Axis Bank (1.96 pc), Cipla (1.85 pc), Wipro (1.72 pc) and L&T (1.40 pc).
However, Lupin rose by 4.68 per cent, followed by Sun Pharma (2.17 pc), NTPC (1.95 pc), ONGC (1.77 pc), GAIL (1.48 pc), Bajaj Auto (1.29 pc) and Bharti Airtel (0.95 pc).
Among the BSE sectorial and industrials indices, IT fell by 3.40 per cent, teck (2.98 pc), metal (2.47 pc), auto (1.78 pc), industrials (1.65 pc), realty (1.50 pc), capital goods (1.32 pc), banking (1.23 pc) and FMCG (0.85 pc).
In broader markets, mid-cap and small-cap indices ended 1.91 per cent and 1.34 per cent lower, respectively.
The market breadth remained negative as 1,780 shares ended lower, 820 advanced, while 118 ruled steady of the total 2,718 stocks traded. The total turnover fell to Rs 2,199.32 crore from Rs 2,471.53 crore yesterday.
