Mumbai, Dec 18 (Inditop.com) A benchmark index of the Indian equities markets, dragged down by heavy selling in blue chip stocks like Reliance, Bharti Airtel and ICICI Bank, plunged Friday to end 174 points lower than its previous close.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) — which opened at 16,855.91 points — fell sharply in the last 30 minutes of trade to 16,719.83 points, down 174.42 points or 1.03 percent from its previous close at 16,894.25 points.
At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty also lost heavily to shut shop at 4,987.7 points, against the previous close at 5,041.75 points, a loss of 54.05 points or 1.07 percent.
Broader market indices were also hit by the selling spree and ended lower, though not as much as the leading indices.
The BSE midcap index closed 0.66 percent lower, while the BSE small cap index ended 0.38 percent down.
The market breadth was tilted towards the negative, with 1,182 stocks advancing, 1,647 scrips declining and 86 remaining unchanged.
Among the major gainers on the Sensex were Tata Motors, up 3.16 percent at Rs.732.75; Sun Pharma, up 1.12 percent at Rs.1,497.85; TCS, up 0.67 percent at Rs.727.50; and Hero Honda, up 0.62 percent at Rs.1,675.40.
Twenty-four Sensex stocks ended lower, prominent among them being RIL, down 2.28 percent at Rs.1,010.45; Sterlite Industries, down 2.03 percent at Rs.818.05; ICICI Bank, down 2.02 percent at Rs.808.80; and DLF, down 1.97 percent at Rs.358.15.
Selling pressure hit other Asian markets as well with most benchmark indices in the red.
The Hang Seng, a benchmark index of the Hong Kong Stock Exchange, ended lower at 21,175.88 points, 0.8 percent or 171.75 points down.
In China, the Shanghai composite index closed 2.05 percent in the red at 3,113.89 points.
A key Japanese index, the Nikkei, was 0.21 percent or 21.75 points down at 10,142.05 points.
The Kospi, the benchmark index of the Korean Stock Exchange, ended flat at 1,647.04 points.
European markets opened on a firmer note but later settled to rule in a tight range.
The FTSE 100 index, benchmark index of the London Stock Exchange, was ruling lower at 5,229.43 points — 11.82 points or 0.23 percent down.
The French index, CAC 40, was 1.16 percent down at 3,830.82 points, while its German peer, the DAX, was trading 1 percent lower at 5,844.44 points.
