The BSE Sensex
dipped 274 points at 17,362.87 following heavy selling in metal, realty and banking stocks as wary investors played safe ahead of assembly election results on Tuesday.
Realty, metals, banking, capital goods, PSU, consumer durables and refinery stocks faced the selling pressure.
Global markets turned weak as China, the world's second largest economy, for the first time in seven years
scaled down its GDP growth target to 7.5 per cent.
"Coupled with the jittery sentiments on slowing China's growth, the sentiment in the domestic market was cautious ahead of important state election results to be declared tomorrow. Weak openings in European markets worsened the sentiments during the afternoon trade." said Shanu Goel, Research Analyst at Bonanza Portfolio.
The BSE 30-scrip benchmark
Sensex opened lower at 17,598.42 and dropped further to 17,312.30. Eventually, it settled at 17,362.87, down 274.12 points, or 1.55 per cent.
The 50-scrip S&P CNX Nifty of the National Stock Exchange closed 1.47 per cent down at 5,280.35 points.
There was heavy selling pressure on metal, realty and banking stocks. The BSE realty and metal indices tumbled over 3 per cent. The banking index slumped 2.62 per cent.
The broader market indices as well as all the sectoral indices, except the FMCG index of the BSE, ended the day in red.
Among the top losers were DLF, down 5.44 per cent at Rs 192.20, Hindalco down 5.35 per cent at Rs 139.90, Gail India, down 4.88 per cent at Rs 353.45, Jindal Steel, down 3.99 per cent at Rs 567.30, ICICI Bank, down 3.88 per cent at Rs 870.45 and SBI, down 3.40 per cent at Rs 2,174.15.
Only five of the 30 Sensex scrips closed in the positive. Tata Motors was up 2.09 per cent at Rs 273.45, Wipro, up 1.38 per cent at Rs 432, ITC, up 1.17 per cent at Rs 207.45,
ONGC, up 0.89 per cent at Rs 283.35 and Cipla, up 0.13 per cent at Rs 312.85 were the Sensex gainers.
- With agency inputs
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