Indian equity indices fell due to profit sales ahead of February F&O series expiry. Weak overseas cues emanating from Europe also led indices down here. Meanwhile, the Prime Minister's Economic Advisory Council, in its review of the economy, pegged GDP growth for 2011-12 at 7.1% and for 2012-13 at 7.5-8%. In the session, 71.6% or 2,208 scrips listed on the BSE declined, with 769 rising and 106 unmoved from the previous session.
The BSE Sensex fell 283 points, or 1.5%, to end at 18,145, which was near its day’s low of 18,096; it had risen to 18,524, which was its day’s high. Mid and smallcap stocks were hammered harder than the benchmark index with the BSE Mid and Smallcap indices falling 3.5% and 3.2% respectively. The 50-scrip S&P CNX Nifty fell 102 points to end at 5,505.
BSE Realty, which had led sectoral indices in the previous trading session, was the biggest loser In the day. The index fell 6.8% with Unitech, HDIL and DB Realty down over 8.2% each.BSE CD and Metal indices followed, down 4.9% and 4.3% respectively.BSE IT was the only index among the 13 in this space which ended positive, up by 0.5%.
Among individual stocks constituting the Sensex, SBI fell 7.9%; it had earlier in the day provided around Rs 1,200 crore to Kingfisher Airlines. DLF followed closely, down by 7.7%. Sterlite, Jindal Steel and Hindalco were down 4.7-6.6%. TCS was the top gainer of the day, up 1.5% followed by Sun Pharma, which rose 1.2% on reports that the USFDA has reached a limited, temporary arrangement to import Lipodox from the company and its distribution subsidiary, Caraco Pharma.
SEBI data showed that FIIs were net buyers in both equity and debt segments putting in Rs 1,495 crores and Rs 59 crores in the segments respectively.