Mkt ends in deep red: Bank, IT, FMCG down

Mumbai: It was an extremely weak session for the markets as they closed deep in red. Indian markets were among the worst performers in Asia. In the last leg of trade heavy profit booking set in taking Nifty below 6,100 mark.

The Sensex fell nearly 416 points in pre-close trading as some market players and investors encashed their holdings to invest in Reliance Power's mega public issue that opened for subscription.

Eventually, Sensex closed down 476.96 points or 2.30 per cent at 20251.09, and the Nifty down 132.55 points or 2.14 per cent at 6074.25.

About 1032 shares have advanced, 1910 shares declined, and 34 shares are unchanged.

Banking, IT, FMCG, power and capital good stocks were among the top losers. Broader markets also lost all their strength they showed in the initial trade.

Midcap and smallcap indices closed in red. On the primary market front, Reliance Power is subscribed by over 9 times getting bids worth Rs 88,000 crore.

Among the top losers Bharti was down 6 per cent, ICICI Bank down 4 per cent, Suzlon, Sterlite are down over 3 per cent.

The BSE Midcap Index ended at 9,431.89 down 1 per cent. The BSE Smallcap Index ended at 12,755.29 down 0.8 per cent. The BSE Bankex ended down 2.4 per cent at 12,258.42. Axis Bank, ICICI Bank, Karnataka Bank, Canara Bank, Andhra Bank moved downwards.

The BSE Capital Goods Index closed down 2 per cent at 19,146.91. Suzlon, Triveni Engg, Praj Industries, Astra Microwave, Reliance Infra, BEML, Jyoti Structure closed lower. The BSE Auto Index closed at 5,335.30 down 1 per cent. Hind Motors, Punj Tractors, Apollo Tyres, TVS Motor, Ashok Leyland closed lower.

The BSE Metal Index closed at 18,610.63 down 1.3 per cent. NALCO, Shree Precoated, Hindalco, Tata Steel, SAIL, Jindal Saw lower. The BSE FMCG Index closed down 2.3 per cent at 2,354.16. United Breweries, Nestle, United Spirits, Tata Tea, Marico, Bata India closed lower.

BSE Oil and Gas Index closed at 13,856.48 down 2 per cent. Reliance Natura, HPCL, Essar OIl, RPL,ONGC, Reliance ended in red

BSE power index closed at 4,632.27 down 2.5 per cent. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red. The BSE IT Index was down 2 per cent at 3,910.75. I-Flex Solution, Patni Computer, Financial Tech, Tech Mahindra, TCS, Infosys closed lower.

The NSE cash turnover was at Rs 19186.66 crore and the NSE F&O turnover was at Rs 65569.15 crore. The BSE cash turnover was Rs 8139.2 crore. Total market wide turnover was at Rs 92895.01 crore.