Markets spanning its five-day rally closed firmly on a weak note as Rupee deprciated, again breaching 68-mark against the dollar on fresh signs of trouble in Syria. The S&P BSE Sensex plunged by 651.47 points or 3.45% to closed at 18,234.66, after touching a low of 18,166.17. The CNX Nifty also tumbled by 209.30 points or 3.77% to end at 5,341.45, after touching a low 5,323.75 in the day.
Selling pressure was visible across the board. Banking, oil & gas and consumer durable stocks were amongst the worst hit in today's session. The BSE banking index- Bankex slipped a whopping 5% or 527 points in the intra-day deals to settle at 9,871. Axis Bank was the top loser from the banking space. The stock crashed 9.3% to close at Rs 782. Yes Bank, Indusind Bank, Federal Bank, Bank of India, PNB, Canara Bank and Union Bank of India also fell 5.5-9% each.
Among sectoral indices, Bankex index plunged by 5.06%, Consumer Durable index slipped by 4.61%, Realty and FMCG indices fell by 4.39% and 3.89%. Oil & Gas, Capital Goods, Power, Metal, Healthcare and PSU indices also fell between 4-1.50% each. In the broader markets, Mid-cap and Small-cap indices closed weak. Mid-cap index slipped by nearly 2% while Small-cap index wned down by 1%.
Among the index gainers Coal India and Mahindra & Mahindra were the only gainers up by 3.40% and 2.65%.
Among the index losers were, HeroMoto Corp and Reliance Industries crashed by 6.58% and 6.07%, ITC, ICICI Bank and Bharti Airtel plunged between 6-5%. Other prominent losers HDFC, Larsen & Toubro, HDFC Bank, Hindalco Inds, Hindustan Unilever, Jindal Steel and Power, Tata Power, Sun Pharmaceutical, Dr Reddy's Laboratories, Tata Steel, Cipla Limited, State Bank of India and Sesa Goa, TCS, NTPC and Maruti Suzuku felliing between 2.5% each.
The Rupee continued its slide against the dollar, as investors remained doubtful whether the government would act decisively to restore confidence in the economy. The Rupe after opening at 66.30 slipped by nearly 3% before settling at 67.63/64 per dollar down by 2.40% as against yesterday's close of 66.00.01.
The overall market breadth was firm negative with 1,478 shares declined as compared to 805 shares advanced.
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