Mumbai: The markets reversed the four day uptrend and took a sharp knock on the back of heavy selling seen in scrips across sectors.
The markets were rangebound during the initial part of the day but came down significantly during the final hours of trade.
The Sensex shaved off around 370 points and the Nifty slipped 107 points.
All the sectoral indices closed in red.
29 out of 30 Sensex stocks ended in red and 48 out of 50 Nifty stocks closed in the negative.
The BSE Sensex closed at 10,042.06 down 370.87 points.
The NSE Nifty closed at 2943 down 107 points.
The BSE Small Cap Index closed at 5,346.26, down 267 points.
The BSE Midcap Index ended at 4,276.92, down 190.16 points.
About 370 shares have advanced, 2002 shares declined, and 35 shares are unchanged.
The major losers on the indices were Tata Steel, Hindalco, Tata Motors, NTPC, SAIL and MTNL.
Metal stocks like Sterlite Ind, Hind Zinc, Jindal Steel, JindalStainless, Hindalco, Tata Steel and SAIL closed lower. The BSE Metal Index closed at 7,884.29, down 7.05 per cent.
Capital goods stocks like Siemens, Ingersoll Rand, Alstom Projects, BEML, Bharat Electronics, SKF India and Carborundum also slipped.
The BSE Capital Goods Index ended down 4.58 per cent at 6,576.31.
Auto stocks like Hind Motors, Escorts, TVS Motor, Cummins, Tube Investment, Maruti Udyog and Tata Motors closed low. The BSE Auto Index closed at 4,469.53, down 4.25 per cent.
The BSE Consumer Durables Index witnessed a of 3.52 per cent to close at 2,680.16 due to Whirlpool, Titan Industries, Su-Raj Diamonds, BPL and Samtel Color.
The BSE Healthcare Index also closed down 3.45 per cent at 3,094.34 amid selling in pharma stocks like FDC, Apollo Hospital, Matrix Lab, Orchid Chemical, Ranbaxy Labs and Lupin.
Technology stocks like I-Flex Solution, Mphasis, Satyam, TCS, Infosys and Moser Baer also plummeted. The BSE IT Index dropped 3.45 per cent to end at 3,505.29.
Oil stocks including HPCL, Kochi Refinery, ONGC, BPCL and MRPL also tumbled. The BSE Oil & Gas Index ended at 4,987.01, down 3.02 per cent.
FMCG stocks like Shaw Wallace, Nirma, McDowell, Nestle and ITC also ended in red. The BSE FMCG Index closed at 1,812.56, down 2.98 per cent.
The BSE Bankex also finished lower by 2.53 per cent at 4,323.99 as selling was seen in Canara Bank, Bank of India, Union Bank, Bank of Baroda, Andhra Bank and UTI Bank.
The NSE cash turnover was at Rs 6,100.94 crore and the NSE F&O turnover was at Rs 19,183.63 crore. The BSE cash turnover was Rs 3832.35 crore.
Total market wide turnover was at Rs 38,855.07 crore.
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