Sensex ends lower; Realty plunges over 3%

The Sensex ended lower on account of sustained selling pressure seen in index heavyweights-J P Associates, State Bank Of India and DLF. Realty, FMCG and realty sectors also led the declines.

BSE Midcap and Smallcap index declined 1.27% and 1.55% respectively.

BSE Realty underperformed all other sectors. The counter plunged by 3.21% followed by FMCG and Bankex, which was down by 2.78% each.

European stocks opened on a negative note and continues to trade in red on concerns of global slowdown. HSBC Holdings declined 12% in London. UK`s benchmark index FTSE 100 fell 31.25 points, or 0.89%, to trade at 3,499.48.French benchmark index CAC 40 declined 43.34 points, or 1.71%, to trade at 2,491.21. Germany`s benchmark index DAX dropped 37.17 points, or 1.01%, to trade at 3,629.24.

Indian stock market opened the day on a negative zone after a rise of 1.56% on the previous working day. The 30-share index, BSE Sensex opened with a loss of 66.60 points, at 8,259.22 on Monday.

The Sensex ended the day with a loss of 165.42 points, or 1.99% at 8,160.40 after touching a high of 8,259.22 and a low of 8,110.10. The broad-based NSE Nifty fell 47.00 points, or 1.79% at 2,573.15 after hitting a high of 2,621.25 and a low of 2,555.60.

Biggest gainers in the 30-share index were Housing Development Finance Corporation (2.65%), Maruti Suzuki India (0.25%), and Mahindra & Mahindra (0.22%).

On the other hand, Jaiprakash Associates (5.32%), State Bank Of India(4.68%), DLF (4.54%), Ranbaxy Laboratories (4.46%), Sun Pharmaceutical Industries (4.08%), and Reliance Communications (4.03%) were the biggest losers in the Sensex.

Overall market breadth was extremely negative. Out of the total 2470 stocks traded at BSE, 799 advanced, 1,583 declined while 88 remained unchanged.