Sensex ends 190 points lower on UP election uncertainty

It was second straight day fall for markets on the back of election results and weak global cues. The Sensex down 190 points and the Nifty down 58 points
Headlines for the day
IT stocks surge on weak rupee
Indraprastha Gas gains after hike in CNG price
Govt holding in ONGC drops by 4.91% post sale
Rupee weakens past 50/dlr as election results weigh




Indian indices
The Indian markets ended lower for the second consecutive session on heavy selling pressure in afternoon trade. Markets were not happy with the outcome of Uttar Pradesh assembly elections. Negative global cues too weighed on the sentiment. Weakness in index heavyweights like RIL, ICICI Bank, L&T, Bharti Airtel, Tata Steel, Tata Motors and Hindalco also pushed the markets lower.
The Sensex ended at 17173, down by 190 points and the Nifty stood at 5222, down by 58 points.
Market sentiment:
The market breadth stood in favour of declines. Of the 2934 stocks traded on the BSE, 1048 (35.72%) rose, 1773 (60.43%) fell and 113 (3.85%) remained unchanged.
Viewing volumes:
An integrated infrastructure development company - Lanco Infratech was traded the most, with over 1.08 crore shares changing hands on the BSE. Following that, an ADAG Group firm - Reliance Power (0.93 crore shares), a real estate development company - HDIL (0.75 crore shares), Industrial Finance Company - IFCI - (0.72 crore shares) and Wind turbine major - Suzlon Energy (0.70 crore shares).
Sectoral & stock screening:
Among the 13 sectoral indices, ten closed the session in red zone. Three Gainers: BSE FMCG up by 0.79%, BSE CD rose by 0.62% and BSE IT surged by 0.52%. Top Losers: BSE Metal down by 3.88%, BSE Power fell by 2.38% and BSE CG declined by 1.94%.
Among 'A' group stocks, top three gainers were- Titan Industries rose by 2.93%, Engineers India up by 2.78% and DLF surged by 2.73%. Top three losers were- Unitech fell by 8.09%, Reliance Power down by 7.09% and Pantaloon Retail (India) declined by 7.01%.
Global indices
The European shares declined on Tuesday as fresh concerns about growth in Europe and China, the world's top metals consumer, prompted investors to cut their risk exposure.
The Asian shares closed lower on Tuesday as slowing economies in China and Europe and tension over Iran dampened sentiment.
The US stock index futures pointed to a lower opening on the Wall Street on Tuesday.