New Delhi: Markets plunged sharply to close 2.8% deep in red on Wednesday, tracking slide in global financial markets. Profit taking after yesterday’s rally also contributed to the southward journey.
The Bombay Stock Exchange benchmark Sensex tumbled since opening bell following losses in Wall Street due to growing concerns about the economic recovery.
All sectoral indices ended in red, among those that witnessed most selling pressure were realty, capital goods, metal, bank, power and consumer durable segments. The Sensex slipped from its 14,000 mark to end below 13,800 level and NSE Nifty closed below 4,100 level.
The 30-share BSE Sensex closed lower by 401.30 points at 13,769.15 and the 50-share NSE Nifty ended down by 123.25 points or 2.93% at 4,078.90.
Major losers from the BSE pack were Tata Steel down by 8.93% to Rs362.55, along with Sterlite Industries by 8.38% to Rs596.00, DLF Ltd by 7.68% to Rs308.10, Reliance Infra by 7.04% to Rs1,156.15, Larsen & Toubro Ltd by 5.84% to Rs1,500.85 and ICICI Bank by 5.82% to Rs695.00.
Among the few gainers there was ACC Ltd up by 3.09% to Rs786.00, Maruti Suzuki by 3.13% to Rs1,102.95, Hero Honda Motors by 1.51% to Rs1,459.20 and Grasim Industries by 1.20% to Rs2,445.45.
Asian markets also ended lower on growth concern as an unexpected drop in Japanese machinery orders raised concerns. Japan’s Nikkei fell by 2.4% to a 6-week low. Meanwhile, Hong Kong’s Hang Seng ended 0.79% lower.