Mkts close with sharp cut, Sensex down 400 pts

Mumbai: The markets closed in red with a sharp cut tracking its Asian peers. Selling pressure was seen in scrips across sectors.

IT, oil & gas, power, auto stocks are top losers. The BSE midcap and smallcap indices also closed lower giving market an extremely negative breadth. Sensex closed down nearly 400 points.

On the primary market front, REC IPO was subscribed over 17 times. On a weekly basis, both the Sensex and Nifty wre down nearly 4 per cent. Sensex closed down 368.46 points or 2.08 per cent at 17366.22, and the Nifty down 78.25 points or 1.51 per cent at 5113.55.

About 1040 shares have advanced, 1895 shares declined, and 97 shares are unchanged. The BSE Midcap Index ended at 7,594.45 down 1 per cent. The BSE Smallcap Index ended at 9,595.41 down 1 per cent.

The BSE Bankex ended at 10,150.22 down 3 per cent. Bank of India, Andhra Bank, Kotak Mahindra, Oriental Bank, Allahabad Bank moved downwards. The BSE Capital Goods Index closed down 1.2 per cent at 15,656.16.

Astra Microwave, BEML, Crompton Greave, Thermax, Greaves Cotton, Areva T&D closed lower.

The BSE Auto Index closed at 4,707.66 down 2 per cent. Escorts, TVS Motor, Amtek Auto, Cummins, Punj Tractors, MRF closed lower. The BSE Metal Index closed at 16,368.94 down 0.4 per cent .

Hind Zinc, Sterlite, NALCO, Shree Precoated, Mah Seamless, Jindal Steel, Jindal Saw, JindalStainless closed lower. The BSE FMCG Index closed down 0.2 per cent at 2,231.11. Colgate, ITC, Bata India, Godrej Consumer, HUL, GlaxoSmith Con closed lower.

BSE Oil and Gas Index closed at 10,673.00 down 2.2 per cent. GAIL, Reliance Natura, HPCL, RPL,ONGC, Reliance, ONGC ended in red. BSE power index closed at 3,624.39 down 2.2 per cent. Torrent Power, NTPC, Reliance Energy, Tata Power, Power Grid Corp, Crompton Greave ended in red.

The BSE IT Index was down 3 per cent at 3,918.28. I-Flex Solution, Patni Computer, Financial Tech, Mphasis, Tech Mahindra, TCS, Infosys closed lower. The NSE cash turnover was at Rs 10112.86 crore and the NSE F&O turnover was at Rs 36386.23 crore. The BSE cash turnover was Rs 4754.15 crore. Total market wide turnover was at Rs 51253.24 crore.