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The BSE Sensex declined by 366 points to end the day at 16,546. The NSE Nifty ended at 4,999, down 114 points.
“The Indian markets declined following global market cues which were down by around 1-1.5 per cent,” said Mr Anand Kuchelan, Vice-President — Research, Padmakshi Financial Services.
All sectoral indices were down on the BSE. Among them, the Capital Goods index (down 3.5 per cent) was the worst-hit and the PSU index (down 0.5 per cent) was the least-hit.
“Initial selling pressure was seen in IT stocks as sentiments worsened for the counters after Cognizant lowered its guidance for the coming year.
Comments from RBI’s Deputy Governor, Mr Subir Gokarn, that the central bank now has relatively little room to cut interest rates negated the sentiments.
Selling intensified during the latter part of the session as the European markets opened on a negative note,” said Ms. Shanu Goel, Sr.Research Analyst, Bonanza Portfolio.
Among the Sensex stocks, the top five were Coal India, GAIL, Hindalco and DLF. The top five laggards were TCS, BHEL, ITC, Tata Motors and L&T.
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