MUMBAI: The BSE benchmark Sensex fell by 228 points today to close below the 18,000-level on heavy selling by foreign funds amid apprehensions of a slowdown in the US.
The 30-share index of the Bombay Stock Exchange, which remained range-bound in early trade, fell sharply in the last 30 minutes of trade to close with a loss of 227.94 points, or 1.25 per cent, at 17,998.41.
The Sensex lost 403.41 points, or 2.19 per cent, this week, its biggest ever fall since the week ended May 21.
The broad-based National Stock Exchange index Nifty also fell by 69.20 points, or 1.26 per cent, to 5,408.70 today.
Marketmen said selling was more pronounced in information technology and tech stocks as major market participants were nervo us ahead of the Federal Reserve's outlook for the US economy, one of their key markets.
A mixed trend in Asia and a lower opening in European stock markets also influenced the trading sentiment here in domestic markets.
In the 30-BSE index components, 26 stocks declined, while four remained higher. IT, tech, banking, realty and consumer durable stocks were the major losers.
The realty sector index was the major loser, losing 2.67 per cent to 3,379.98, followed by the banking index, which fell by 2.07 per cent to 12,216.07.
Analysts said shares of software exporters fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax on book profits to 20 per cent from the prevailing 18 per cent.
The information technology sector index dropped by 1.84 per cent to 5,408.36, with software exporting companies like Infosys, Tata Consultancy and Wipro badly affected by the hike in MAT. Infosys Technologies dropped by Rs 54.65 to Rs 2,708.85, while TCS fell 2.10 per cent.
The most valuable firm on the Sensex and oil refinery major Reliance Industries continued to lose ground and fell by Rs 6.95 to Rs 949.75.
Among the other losers in the Sensex pack, DLF fell by 3.30 per cent, followed by Hero Honda (3.18 per cent), ICICI Bank (2.84 per cent), Tata Power (2.55 per cent), Jaiprakash Associates (2.40 per cent), Jindal Steel (2.38 per cent), R- Infra (2.17 per cent) and SBI (2.16 per cent).
Small-cap and mid-cap equities also witnessed similar and jitters and lost ground after investors offloaded their holdings.
Barring the oil and gas index, all the sectoral indices were in the red. Oil and Natural Gas Corp, the largest explorer, climbed 2.87 per cent to Rs 1,317.65 after the company discovered oil in a block in the western onshore basin.
TOI
The 30-share index of the Bombay Stock Exchange, which remained range-bound in early trade, fell sharply in the last 30 minutes of trade to close with a loss of 227.94 points, or 1.25 per cent, at 17,998.41.
The Sensex lost 403.41 points, or 2.19 per cent, this week, its biggest ever fall since the week ended May 21.
The broad-based National Stock Exchange index Nifty also fell by 69.20 points, or 1.26 per cent, to 5,408.70 today.
Marketmen said selling was more pronounced in information technology and tech stocks as major market participants were nervo us ahead of the Federal Reserve's outlook for the US economy, one of their key markets.
A mixed trend in Asia and a lower opening in European stock markets also influenced the trading sentiment here in domestic markets.
In the 30-BSE index components, 26 stocks declined, while four remained higher. IT, tech, banking, realty and consumer durable stocks were the major losers.
The realty sector index was the major loser, losing 2.67 per cent to 3,379.98, followed by the banking index, which fell by 2.07 per cent to 12,216.07.
Analysts said shares of software exporters fell after the Union Cabinet approved the new Direct Taxes Code bill wherein it proposed a hike in the rate of minimum alternate tax on book profits to 20 per cent from the prevailing 18 per cent.
The information technology sector index dropped by 1.84 per cent to 5,408.36, with software exporting companies like Infosys, Tata Consultancy and Wipro badly affected by the hike in MAT. Infosys Technologies dropped by Rs 54.65 to Rs 2,708.85, while TCS fell 2.10 per cent.
The most valuable firm on the Sensex and oil refinery major Reliance Industries continued to lose ground and fell by Rs 6.95 to Rs 949.75.
Among the other losers in the Sensex pack, DLF fell by 3.30 per cent, followed by Hero Honda (3.18 per cent), ICICI Bank (2.84 per cent), Tata Power (2.55 per cent), Jaiprakash Associates (2.40 per cent), Jindal Steel (2.38 per cent), R- Infra (2.17 per cent) and SBI (2.16 per cent).
Small-cap and mid-cap equities also witnessed similar and jitters and lost ground after investors offloaded their holdings.
Barring the oil and gas index, all the sectoral indices were in the red. Oil and Natural Gas Corp, the largest explorer, climbed 2.87 per cent to Rs 1,317.65 after the company discovered oil in a block in the western onshore basin.
TOI
