Sensex tumbles 143 pts ahead of macro data, TCS Q3 numbers

Equities remained under tight grip of bears as the BSE Sensex logged its sixth fall in seven days by slipping 143 points to 24,682.03 -- its lowest closing in more than 19 months -- ahead of key macroeconomic data and quarterly numbers of IT major TCS.
With today's plunge, the benchmark index has wiped off all the gains made since the swearing-in ceremony of the new government on May 26, 2014.
The 30-share Sensex after rising over 57 points in early trade, quickly slipped into the negative terrain as investors preferred to trim positions at every rise and hit a low of 24,597.11 before settling 143.01 points or 0.58 per cent lower at 24,682.03, its weakest closing since May 30, 2014.

Of the 30-share Sensex pack, 21 lost while nine gained.
The NSE Nifty index after cracking 7,500-mark, touched the session's low of 7,487.80. However, fag-end buying helped the gauge to recover part of the lost ground to settle 53.55 points or 0.71 per cent down at 7,510.30.
Sentiment was distinctly weak on a series of negative factors such as concerns over China's growth, crude falling below 31 USD to 12-year lows and caution ahead of IIP data for December and CPI inflation, to be released in the day.

Third quarterly earnings of TCS due later in the day too negatively impacted sentiment, they added.

Banking, realty, metal, infrastructure, oil&gas, PSU and IT sectors were hit hardest.
Major BSE losers were Axis Bank, down 2.67 per cent to Rs 406.10 while Tata Steel slumped 2.24 per cent to Rs 246.35.
Other losers were SBI, ONGC, Airtel, TCS, Tata Motors, Hero MotoCorp, ICICI Bank, GAIL, HDFC Bank, Bajaj Auto, HDFC, Infosys, Dr Reddy's, RIL and Maruti Suzuki.
However, NTPC rose by 2.47 per cent followed by Wipro 2.08 per cent, M&M 1.59 per cent, Adani Ports 0.94, HUL 0.87 per cent and Sun Pharma 0.69 per cent.
Among the BSE sectoral indices, banking suffered the most by falling 1.76 per cent followed by realty 1.51 per cent, infra 0.95 per cent, metal 0.92 per cent, oil&gas 0.85 per cent, IT 0.60 per cent and auto 0.45 per cent.

The broader markets too felt the heat with the BSE small-cap and mid-cap indices falling 1.03 per cent and 0.94 per cent, respectively.
In the the 30-share Sensex pack, 22 counters ended
higher, while 8 ended lower.
Among the losers were Infosys, Cipla, Sun pharma, Asianpaints, Hindustan unilever, Dr reddy, Lupin and Coal India.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 608.35 crore yesterday, as per provisional data released by the stock exchanges.
Broader markets continued to display a firm trend as retail investors mounted more bullish bets, with the BSE mid-cap index rising 0.83 per cent and small-cap 0.21 per cent.

Japan's Nikkei climbed 1.10 per cent and Hong Kong's Hang Seng 0.83 per cent while Shanghai Composite surged 1.60 per cent.
European markets drew a mixed response as the UK's FTSE rose 0.09 per cent, while Frankfurt's DAX and Paris' CAC shed up to 0.28 per cent.
Domestic markets will remain closed on Monday on account of the Independence Day.