Sensex ends weak; Realty tumbles

The sensitive share index, Sensex wrapped the day on a weak note led by frontliners-DLF, Tata Motors and Jaiprakash Associates. Even broader markets hurt the sentiment. The other major draggers were realty, metal, power, capital goods and banking stocks. It opened with a gain of 45.23 points, at 14,830.97 on Tuesday on positive global cues. After opening positive, Sensex pared all its gains and fell into the negative terrain on profit booking amid volatility. The markets continued to slip further in the red as cautious traders booked profits across the board ahead of the Union Budget. Fears of low rainfall also weighed on sentiments. Finally it ended sharply lower due to subdued European market and heavy selling pressure witnessed in heavyweights.

Secondline stocks also supported the fall. Midcap and Smallcap index plunged 2.94% and 2.51% respectively.

Among the sectoral indices, BSE Realty plummeted 7.42%, Metal, Power, Capital goods, plunged over 3% each, Bankex and Oil & gas dropped over 2% each, Auto and PSU declined over 1% each.

European stocks fell as gains by commodity producers offset the biggest contraction in the UK economy since 1958. UK`s benchmark index FTSE 100 fell 5.20 points, or 0.12%, to trade at 4,288.83. French benchmark index CAC 40 declined 3.51 points, or 0.11%, to trade at 3,190.17 and Germany`s benchmark index DAX fell 1.88 points, or 0.04%, to trade at 4,883.21. (4:20 p.m., IST)

Asian stocks ended in negative. The regional benchmark index capped a record quarterly gain, on optimism a recovery in the global economy will lift earnings for producers of commodities and electronics. Japanese benchmark index Nikkei fell 174.97 points, or 1.79%, to end at 9,958.44.Hong Kong`s Hang Seng index lost 149.78 points, or 0.81%, to close at 18,378.73 and China`s Shanghai Composite advanced 15.95 points, or 0.54%, to settle at 2,959.36.

The Sensex ended the day with a loss of 291.90 points, or 1.97% at 14,493.84 after touching a high of 14,907.48 and a low of 14,420.41. The broad-based NSE Nifty declined 99.85 points, or 2.27% at 4,291.10 after hitting a high of 4,426.75 and a low of 4,267.35.

Major gainers in the 30-share index were Hero Honda Motors (1.08%), Tata Consultancy Services (0.98%), and Hindustan Unilever (0.36%).

On the other hand, DLF (8.05%), Tata Motors (7.23%), Jaiprakash Associates (7.22%), Reliance Capital (6.18%), Sterlite Industries (India) (6.01%), and Reliance Energy (5.53%) were the major losers in the Sensex.

Overall market breadth was sharply negative. Out of the total 2,674 stocks traded at BSE, 760 advanced, 1,841 declined while 73 remained unchanged.