Market review: Sensex extends losses, down 151 pts to end 2-mth low
warning on India's widening trade deficit and tepid activity in global markets also had a sentimental impact on the market.
Fall in Sensex-based counters like Jindal Steel, Coal India, Tata Motors, Tata Steel, ITC, ICICI Bank, Hindalco, Maruti Suzuki, HDFC Bank, Bharti Airtel, Sterlite Ind, SBI, HDFC and HUL mainly weighed on the market sentiment.
However, smart rise in RIL, Infosys, Wipro, TCS and Sun Pharma restricted the fall to some extent.
Metal counters were the worst sufferer on concerns over the Chinese property market as China is the world's largest consumer of copper and aluminium.
FMCG giant and among the heavyweights, Cigarette major ITC tumbled by 2.88 pct after the Gujarat state government increased the VAT on cigarettes to 30 pct from 25 pct in the state government's FY 2014 budget presented on Wednesday.
On the other hand, the heavyweight, Relinace Industry (RIL) ended higher by 2.10 pct after it said it will invest USD 5 billion along with BP in the flagging KG-D6 fields.
The company on Friday said that Reliance Sibur Elastomers (RSEPL), a joint venture between the company and SIBUR, has begun construction of a new butyl rubber plant at Jamnagar in Gujarat, which will be the country's first and amongst the world's top five manufacturers of butyl rubber when commissioned in 2015.
"This week market corrected as usually happens at the time of settlement which should not disturb investors. It has become a regular feature. Nifty at 5850, the valuations are neither expensive nor cheap. What
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