MUMBAI: The BSE Sensex provisionally fell 2.45 percent on Thursday, as investors took profits on a near 19 percent jump over the past 3-½ weeks.
Automakers such as Mahindra & Mahindra, Tata Motors and Maruti Suzuki led the drop after the auto sector had risen by more than a third since July 13 through Wednesday.
The 30-share BSE index provisionally ended down 389.69 points at 15,514.14, with 29 stocks declining.
The 50-share NSE index provisionally closed down 2.3 percent at 4,585.75.
The market plummeted in the last hour of trade as traders scrambled to unwind positions. Traders turned cautious after the benchmark Sensex was nearing the psychological level of 16000. Automobile stocks, followed by metals, were the worst hit after a sharp run-up in the recent rally.
The broader market ended on a weak note as well. The BSE Midcap Index was down 2.37 per cent while BSE Smallcap Index climbed 1.24 per cent.
Among frontline stocks, Tata Motors (-7.44%), Jaiprakash Associates (-6.24%), Maruti Suzuki (-5.96%), Hindalco Industries (-5.95%) and Mahindra & Mahindra (-5.87%) were under severe pressure.
Sun Pharmaceuticals, up 1.16 per cent was the lone gainer in the 30-share index.
Market breadth on BSE worsened with 1603 declines outnumbering 1088 advances.
(All figures provisional)
ET
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