Mumbai: The Indian markets kicked off the expiry week with deep cuts in the range of 1-7 per cent for heavyweights. Rally in dollar has sparked sell off across the globe in several asset classes like commodities and equities.
Renewed worries in the euro zone over the weekend pulled the euro down to a record low against the Swiss franc, weakened risky assets such as Asian stocks and boosted safe haven investments like US government debt and gold on Monday.
Sluggish breadth and fall of 2 per cent amid high turnover will make the traders jittery going forward into the expiry this week.
The Sensex shut shop at 17993.33 down 332.76 points or 1.82 per cent and the Nifty closed at 5383.95 down 102.40 points or 1.87 per cent. About 849 shares advanced, 1985 shares declined, and 808 shares remain unchanged.
BHEL joined the club of Q4 duds. The stock skids below Rs 2000 mark with loss of close to 7 per cent. Mixed earnings coupled with news of FPO dragged the stock close to its 52-week low.
The selloff was across the board. Capital goods, power, banks, realty, metal, pharma, auto, oil&gas were reeling under huge cuts of 1.5-3 per cent. Short covering in ITC dragged the FMCG index into green territory.
Nifty gainers: GAIL, ITC, BPCL and Siemens were up 0.4-2 per cent.
Nifty losers: BHEL, Sesa Goa, IDFC, Reliance Infra and ICICI Bank were down 3-7 per cent.
The most active shares on BSE were Sanghvi Forging, BHEL, SBI, Divis Labs and Tata Steel.
Top percentage gainers on the BSE: Sanghvi Forging, Stewarts and Lloyds, Shalimar Paints and Bombay SwadShar were up 10-31 per cent.
Top percentage losers on the BSE: Falcon Tyres, Dunlop India, Martin Burn, Pee Cee Cosma and Prithvi Info were up 12-17 per cent.
Broader markets
Midcap gainers: Shree Global Tr, KGN Industries, MVL, eClerx Services and Kwality Dairy were up 3-5 per cent.
Midcap losers: Aurobindo Pharma, KS Oils, DB Realty, PTC India and Glodyne Techno were down 6-9 per cent.
Smallcap gainers: Modern India, Magma Fincorp, Shristi Infra, Nirlon and Unisys Soft were up 7-8 per cent.
Smallcap losers: Falcon Tyres, Dunlop India, Smartlink Net, MIC Electronics and Kirloskar Ind were down 8-17 per cent.
New listing: Sanghvi Forging, a new kid on the block surged 32 per cent on debut. The issue price was Rs 85. Keep an eye on this stock in days to come as one expects more fireworks in this counter.
Asian markets: China shares fell to a 3-1/2-month low on Monday, dragging Hong Kong lower, as retail investors piled into a selloff after a spike in money market rates and a softer reading on Chinese manufacturing suggested more weakness ahead.
Hong Kong's Hang Seng index dropped 2.1 per cent, breaking below its 200-day moving average, currently at 23,007, that had largely held firm this year and is now seen as near-term resistance for any bounce.
Crude: US crude slipped by $2 to below $100 a barrel on Monday as investors flocked to the dollar on renewed concerns over the euro zone debt crisis.
(With inputs from Reuters)
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