By IANS
Mumbai : In a day of big sell-offs, Indian shares Monday made a partial recovery from their intra-day slide in volatile trading to close 1.5 percent down with a key index settling below the 14,000 mark.
The 30-share benchmark sensitive index of the Bombay Stock Exchange (BSE) was down 235.37 points or 1.5 percent from Friday’s close to settle at 14,903.03 after recovering from its intra-day low of 14,705, with late rallies by banking and pharma shares.
Twenty of the Sensex components traded in the red.
Similarly, the broader 50-issue Nifty of the National Stock Exchange (NSE) took a beating to close at 4,339.50, down 62.05 points or 1.41 percent from Friday’s close.
“The meltdown on the global markets mainly triggered the major sell-off on the domestic bourses, dragging the Sensex down sharply,” said an analyst with a stockbroker here.
Analysts were, however, confident that the market would bounce back soon.
Leading the major losers of the day were aluminium maker Hindalco Industries, down 3.05 percent at Rs.157.45, followed by leading private sector lender ICICI Bank, down 3.03 percent at Rs.887.60, and top car maker Maruti Udyog, down 2.95 percent at Rs.825.20.
Private sector telecom service provider Reliance Communications, top engineering and construction firm Larsen & Toubro, third-largest software exporter Infosys Technologies, its bigger rival Wipro, cement maker Associated Cements, private sector mortgage and housing finance company Housing Development and Finance Corporation were the other major shares that traded in the red.
Top public sector lender State Bank of India led the major gainers of the day, up 2.80 percent at Rs.1,681.85, followed by leading hospitality and tobacco firm ITC, up 1.77 percent at Rs.172.35, and leading pharma company Ranbaxy laboratories, up 0.93 percent at Rs.369.65.
Leading drug maker Dr. Reddy’s Laboratories, top software exporter Tata Consultancy Services and multi-utility vehicle maker Mahindra & Mahindra were among the other shares that traded in the green.