By IANS,
Mumbai : Indian equities opened weak Monday on account of a regional ally’s decision to withdraw its six ministers from the United Progressive Alliance (UPA) government and drifted lower as trading progressed.
The weak sentiment was also broad-based across indices, spread over small-caps, mid-caps, as also the 13 sector specific indices of the Bombay Stock Exchange (BSE), all of which were ruling in the negative territory.
The 30-share benchmark sensitive index (Sensex) of the exchange opened at 18,361.65 points, against the previous close at 18,486.45 points. At one point, it was close to falling below the crucial 18,00-point mark at 18,058.71 points.
But subsequently, with an hour to go for the closing bell, the key index was ruling at 18,188.21 points, amid some volatile trading with a fall of 298.24 points, or 1.61 percent, over the previous close, data available with the bourse showed.
Twenty-three out of 30 shares that comprise the Sensex were trading in the red.
The situation was no different at the National Stock Exchange (NSE), where the broader 50-share S&P CNX Nifty was ruling at 5470.90 points, with a loss of 67.85 points, or 1.23 percent.
The DMK had said Saturday it was pulling out of the UPA and that its six ministers would quit after the failure of seat-sharing talks with the Congress for the April 13 assembly polls.