Markets continue weak run, end in red

The Sensex falls 571 points this week.

The Sensex opened at 17,080 and slipped below the 17,000 mark on falling metal stocks. Asian cues, especially Shanghai, dragged the index further to a low of 16,823 - down 265 points. The market, thereafter, staged a recovery and managed to end at 16,988 - down 100 points.

The Nifty ended at 5,091 - down 34 points.

Fears of a sovereign debt issue across the globe was seen as US markets ended in red. Asian markets also traded weak, with  Nikkei falling 3.2% after a week-long gap. Worries that Greece's crisis will not be over soon dampened sentiments.

Most sectoral indices were in red, barring heathcare and PSU. The Healthcare index jumped 1.5% to 5,426. However, metal, IT, power and auto ended down 1% each.

Tata Motors shed 2.7% to Rs 815. Reliance Communications and Bharti Airtel dropped 1.8% each to Rs 157 and Rs 292, respectively.

Wipro slipped 1.6% to Rs 660. HDFC declined 1.5% to Rs 2758.

ITC and BHEL slipped 1.4% each to Rs 258 and Rs 2,412, respectively.

Sterlite, Tata Power, ACC, DLF and Infosys were the other big losers. Market heavyweight, Reliance, was down 1% at Rs 1,011.

However, new entrant, Cipla, gained 3% at Rs 346. Hindustan Unilever jumped 1.5% to Rs 232.

Grasim, SBI and ONGC added 1% each in trades today.

The BSE market breadth was marginally negative. Out of 2,938 stocks traded, 1,469 declined while 1,358 advanced.

Tata Steel topped the value chart with a turnover of Rs 149.45 cr, followed by Sesa Goa (Rs 145.39 cr), SBI (Rs 105.52 cr), Suzlon (Rs 105.52 cr) and Reliance (Rs 84.52 cr).

The volume chart was led by Bank Of Rajasthan with trades of 15.09 million shares, followed by Suzlon (15 million), Birla Power (10.92 million), Filmcitty Media (8.38 milion) and RNRL (7.07 million).