There seems to be no relief for Indian markets as heavy selling across the board saw Sensex and Nifty close below 13000 and 4000, respectively. But losses in the benchmarks were not as severe as in the broader market comprising mid- and small-cap stocks. Not only were rate sensitive sectors hurt, shares of metal, power and fertilizer companies were also beaten down.
The Bombay Stock Exchange’s Sensex fell to a low of 12,904.09, before settling at 12,961.68. The index lost 500 points or 3.71 per cent from the previous close. The National Stock Exchange’s Nifty closed 144 points or 3.56 per cent lower at 3896.75. The index fell from a high of 4075.40 to a low of 3878.20.
Biggest index losers were Reliance Infrastructure (down 10.54%), Reliance Communications (10.49%), Mahindra & Mahindra (9.27%), Maruti Suzuki (8.05%) and State Bank of India (7.81%).
In the mid-cap space, Shree Precoated (down 16.35%), Chambal Fertilisers and Chemicals (14.26%), Rajesh Exports (14.13%), Adlabs Films (13.93%), JSW Steel (13.92%), IFCI (13.44%), UCO Bank (13.44%), HDIL (12.7%), Edelweiss Capital (12.49%) and Phoenix Mill (12.4%) were the biggest losers.