The Sensex tumbled 2.9% and Nifty down 2.7% this week, led by fall in telecom and technology stocks.
Telecom stocks de-rated this week post tariff war, which hammered four days of this week, while these stocks saw buying interest today only.
Reliance Communication plunged 22%, Idea down 15% and Bharti Airtel tumbled 21.4%.
Index
Closing Value
Weekly Chg (%)
TECk
2,952.77
-10.74
IT
4,276.81
-7.25
SENSEX
16,642.66
-2.87
SMALLCAP
7,371.79
-2.84
Nifty
4945.2
-2.72
REALTY
4,389.93
-2.61
AUTO
6,450.01
-2.32
BANKEX
9,771.71
-1.61
OIL&GAS
10,264.48
-1.19
CAP GOODS
13,687.81
-0.31
MIDCAP
6,301.38
-0.01
POWER
3,082.39
0.63
PHARMA
4,399.66
1.21
METAL
14,511.67
2.18
FMCG
2,751.98
6.15
Selling was seen in technology stocks as well due to 12% appreciation in the rupee. HCL Tech lost 12%, TCS down 11%, Wipro down 9.3% and Infosys down 6.9%.
In the largecaps, Grasim was down 11% and Maruti down 10.7%. Reliance Industries declined 3.5%. Tata Motors, Suzlon and Unitech tumbled 6.5-7.5%. However, HUL was up 9% and ITC up 7.3%.
Among the broader indices, CNX Midcap Index was up 0.75% while BSE Small Cap Index down 2.6%. Nifty Junior ended flat.
Shree Ashtavinayak plunged 30%. Austral Coke and Alkali Metals dropped 22% each. MindTree and Geodesic Info slipped 11% each. Mahindra Satyam was down 9%.
However, Jet Airways gained 29%, IRB Infra up 15% and EIH up 14.5%.
The Nifty traded lower throughout the session and closed below the 4950 level. Infosys declined in the second half of trade on the back of profit booking, despite reporting positive earnings in Q2 and guidance for FY10.
At 14:10 hours IST, the Sensex extended losses on the back of sell-off in banking, technology, capital goods, FMCG, auto and select power stocks. Heavyweight Reliance Industries also slipped 0.9%. Today's new listing Pipavav Shipyard also declined over 5% and was trading below its issue price of Rs 58.
At 1.15 pm, the Sensex was trading lower as banks, FMCG, auto and capital goods stocks were witnessing selling pressure. However, some buying was seen in realty, IT and oil & gas stocks. Reliance, Infosys, ICICI Bank, L&T and HDFC were the negative contributor to the Sensex.
