The market opened on a buoyant note today as a positive close on Wall Street overnight on the back of some encouraging economic reports and a firm trend across the Asian region prompting investors to go in for some buying across the board. Strong sales and shipments figures from automobile and cement manufacturers also aided sentiment to a significant extent. Top gainers | Worst losers But the mood turned cautious after an hour or so and stocks started losing ground gradually. A weak close in part of the Asian region and weakness exhibited by stocks on the European bourses hurt sentiment to an extent. Also, with the big follow-on offering from NTPC scheduled to open on Wednesday, investors appeared keen on mobilising some funds by trimming down positions in some blue chip stocks. As the session progressed, realty, banking and PSU stocks declined sharply on a severe bout of selling pressure. Metal, automobile and information technology stocks, which were trading firm for well over a couple of hours, turned track as well. In the end, select pharma and FMCG stocks managed to buck the trend and posted gains. The Sensex, which fell nearly 400 points from the day's high of 16,525.98 to around 16,130 in late afternoon trade, ended the day at 16,163.44 with a sharp loss of 192.59 points or 1.18%. The Nifty index of the National Stock Exchange closed at 4830.10 with a loss of 69.60 points or 1.42%. The Nifty touched a high of 4951.15 and a low of 4814.10 during the session. Jaiprakash Associates, the biggest loser in the Sensex today, ended lower by around 3.7%. Grasim Industries, Reliance Communications, Mahindra & Mahindra, NTPC, Sterlite Industries, State Bank of India, DLF and Wipro lost 2% - 3%. Reliance Industries lost nearly 2%. Maruti Suzuki, ICICI Bank, Tata Motors, Larsen & Toubro, Reliance Infrastructure, HDFC Bank, Bharti Airtel, BHEL and Tata Consultancy Services also ended with notable losses. Unitech, IDFC and Ranbaxy Laboratories lost over 4% today. Cipla, Suzlon Energy, Reliance Capitals, Jindal Steel, Idea Cellular, Axis Bank, GAIL India, Punjab National Bank, GAIL India, SAIL, BPCL and Siemens all ended with sharp losses. Ambuja Cements, HDFC and Hindalco bucked the trend and posted sharp gains. ONGC and Power Grid Corporation ended with modest gains. As selling intensified around mid afternoon, midcap and smallcap stocks, which were sailing along merrily earlier in the day, wilted under pressure and gave up their gains. Top gainers | Worst losers The market breadth was weak at close. Out of 2963 stocks traded on BSE, 1788 stocks declined. 1105 stocks ended with gains and 70 stocks ended flat.
Source: http://sify.com/finance/sensex-fails-to-retain-gains-ends-193-pts-down-news-sensex-kccqKQfigcc.html
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