New Delhi: The markets ended weak after a volatile session with the benchmark index settling at 15,093 levels, down 0.8% or 119 points.
It had been moving in a broad range of 15,013 – 15,272 levels in intra-day deals. Similarly, the National Stock Exchange’s index Nifty ended down 23 points at 4,529 levels.
Marketmen said a weak trend in overseas markets and concerns over slowdown in economic growth mainly influenced the trading sentiments here.
“The market may extend its weak trend after the Sensex reported losses of over 300 points in the previous session. The sharp fall in Asian markets in current trades and weak US indices may also weigh on the investors sentiment,” said a technical analyst with Sharekhan.
Meanwhile, Prime Minister Manmohan Singh’s Economic Advisory panel pegged India’s economic growth 7.7% in the year to March-end, cooling from the year before and below a recent forecast from the central bank.
At the bourses, leading the pack of losers were the banking scrips. The BSE banking index lost 2.2% by close. Key losers in this pack included Bank of Baroda, HDFC Bank, Yes Bank, ICICI Bank, State Bank of India and IDBI Bank.
Profit booking was also seen in realty counters with Mahindra Life and HDIL skidding over 4% each. Anant Raj Industries, DLF Limited, Omaxe Limited, Phoenix Mills and Parsvnath Developers also lost ground.