The Sensex notched up a gain of 19 points to open at 5,715, but incurred losses in early deals on selective selling, and drifted into the negative zone. The index held gains for a short period in mid-morning deals, but soon slipped into the red as stocks tumbled due to fresh selling in most of the counters.
The markets witnessed a sharp decline towards the closing hours as unprecedented selling pressure across-the-board dragged the index below the 5,600 levels to a low of 5,550.
The Sensex ended the trading session with a loss of 75 points at 5,621.
The Nifty slipped below the 1,800 levels, and lost 41 points to close at 1,769.
While 10 Sensex stocks advanced, 20 declined on Tuesday. Advancing shares accounted for a volume of 40 lakh (4 million) for Rs 279.27 crore (Rs 2,792.7 million), and declining shares registered a volume of 3.55 crore (35.5 million) amounting to Rs 1,474.23 crore (Rs 14.74 billion).
Reliance ended a per cent lower (Rs 4) at Rs 556. ITC was down Rs 2 at Rs 1,021.
HLL, however, in a weak market trend, ended up 1.56% (Rs 3) at Rs 192.
SBI crashed 4.38% (Rs 26) to Rs 570. While HPCL slumped 5.71% (Rs 25) to Rs 421, MTNL shed 4% (Rs 5) to Rs 128. BHEL, however, ended firm with a gain of 4.56% (Rs 23) at Rs 536.
ONGC at Rs 693 (down Rs 46 or 6.21%), Tata Power at Rs 356 (down Rs 19 or 5.17%), Tisco at Rs 386 (down Rs 18 or 4.55%), Bharti Tele at Rs 128 (down Rs 7 or 5%) and HDFC Bank at Rs 339 (down Rs 6 or 1.64%) were battered on relentless selling pressure.
Zee dropped 11.16% (Rs 17) to Rs 135.
Dr. Reddy's remained weak throughout the session, and tanked 7.45% (Rs 104) to Rs 1,295. While Cipla lost 4.81% (Rs 58) to Rs 1,144, Ranbaxy closed down a per cent (Rs 6) at Rs 988.
Satyam plunged 8% (Rs 26) to Rs 292. Wipro also ended in the red with a loss of 1.89% (Rs 29) at Rs 1,528. Infosys, however, ended in the gainers list at Rs 5,214 - up Rs 18.
Hero Honda dropped 4% (Rs 18) to Rs 434. Tata Motors was down 1.42% (Rs 7) at Rs 512. Bajaj, however, held on to its gains and closed up a per cent (Rs 12) at Rs 1,009.
ACC (down Rs 13 or 4.93% to Rs 243) and Gujarat Ambuja (down Rs 8 or 2.63% to Rs 281) ended with losses. Grasim and L&T, however, ended with gains at Rs 1,117 (up Rs 5) and Rs 503 (up Rs 3), respectively.
Hindalco mopped up 3% gains (Rs 34) to Rs 1,198. While BSES added 2.10% (Rs 11) to Rs 547, ICICI Bank moved up 2.56% (Rs 8) to Rs 303.
SSI (down Rs 34 or 16.56% to Rs 171), NIIT (down Rs 24 or 11% to Rs 194), Hexaware (down Rs 42 or 10.82% to Rs 349), Tata Elxsi (down Rs 9 or 9.43% to Rs 89), Visual Software (down Rs 18 or 9% to Rs 181), E-serve (down Rs 25 or 3.47% to Rs 695) and Mastek (down Rs 9 or 3.22% to Rs 266) ended at lower levels.
Canara Bank at Rs 121 (down Rs 15 or 10.94%), BOI at Rs 58 (down Rs 7 or 10.70%), Uco Bank at Rs 21 (down Rs 2 or 8.77%), Union Bank at Rs 45 (down Rs 4 or 8.76%), Dena Bank at Rs 27 (down Rs 2 or 8.35%), Andhra Bank at Rs 44 (down Rs 4 or 7.56%), Syndicate Bank at Rs 32 (down Rs 2 or 7.11%) and PNB at Rs 239 (down Rs 18 or 7%) ended on a lacklustre note.
RCF plunged 10% (Rs 5) to Rs 46, and Madras Fertilizers lost 8.38% to Rs 16. Bongaigaon Refinery shed 7% (Rs 5) to Rs 69. While IOC slumped 6.59% (Rs 29) to Rs 414. BPCL dropped 6.42% (Rs 30) to Rs 434.
SCI and STC were up 2% each at Rs 155 (up Rs 4) and Rs 141 (up Rs 3), respectively.


