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Mumbai: Key equity indices ended the day on the negative terrain, after opening the day with gains on account of weak cues from the European markets coupled with intense selling pressure during the final trading hours.
The 30-share Sensex of Bombay Stock Exchange (BSE) lost 252.85 points, or 2.78%, and ended the day at 8,839.87 points. The broader S&P CNX Nifty of National Stock Exchange (NSE) shed 72.20 points, or 2.62%, and closed the day at 2,682.90 points.
Dealers in the market say that invariable fear of deepening global crisis along with fall in the US index futures also pushed the markets on the back-foot. Indian bourses started the day in green on the back of political restructuring that happened over the weekend which brought expectation of newer policies to help the markets.
However, during the final trading hours, investors started booking profit which actually triggered sell-off and benchmark indices finally closed below the dotted line.
An analyst from the leading broking house said, “Though the investors welcomed Prime Minister Manmohan Singh taking charge of the finance ministry, but statement from the new home minister P Chidambaram about the slow economic growth also affected the markets to some extent.” All the sectors in the BSE Sectoral indices ended the day on negative terrain, with auto and realty being the worst performers of the day.
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