The Sensex, which slipped into negative territory in mid-morning deals, remained weak thereafter, and gathered pace during the closing hours on sharp selling across the board. It finally finished with a huge loss of 87 points at 4,306. The Nifty also dropped 31 points to close at 1,372.
ITC remained sluggish through the session and dropped 2% (Rs 16) to Rs 804. Reliance at Rs 418 (down Rs 10 or 2%) and HLL at Rs 185 (down Rs 4 or 2%), too, faltered under sustained selling pressure.
Infosys slipped in the mid-afternoon deals and lost nearly 2% (Rs 65) to Rs 4,151. HCL Tech (down 7% or Rs 14 to Rs 197) and Satyam (down 2% or Rs 6 to Rs 236) ended in the slip-stream.
MTNL traded on a mixed note, but eased in the afternoon deals to finish with a huge loss of 5% (Rs 6) at Rs 123. SBI, on renewed selling pressure in afternoon deals, declined 2% (Rs 10) to Rs 441. HPCL ended marginally lower at Rs 424 after trading firm for better part of the trading session. BHEL remained firm with steady gains and closed up a per cent (Rs 4) at Rs 354.
Dr. Reddy's buckled under selling pressure and dropped 3% (Rs 38) to Rs 1,150. Ranbaxy, too, slumped nearly 3% (Rs 27) to close at Rs 1,023. Cipla, after a firm trading till the mid-afternoon deals, slipped thereafter to finish with a loss of a per cent (Rs 13) at Rs 1,031. Glaxo was down Rs 2 at Rs 450.
Cement and auto stocks, too, ended with steep losses.