How and Where did the Stock Market Moved Today (17th May '11)
The market ended notably lower on Tuesday as stocks, led by SBI and ONGC, tumbled on heavy selling. A sharp plunge in SBI's earnings triggered the sell-off.
Weak global markets and concerns about a likely slowdown in economic growth too contributed to the decline. The Sensex ended at 18,142 (provisional) with a loss of 203 points or 1.1%.
The Nifty closed at 5440.30, down 58.70 points or 1.07%. Bank, oil and PSU stocks declined sharply. Automobile, power, capital goods and realty stocks ended weak, despite edging off their lows. Select consumer durables, FMCG and IT stocks moved up.
Metal and pharma stocks mostly ended flat. The major laggard was SBI which lost over 7.5% and ONGC declined by over 6%.
RIL, Hero Honda, Reliance Infra, JP Associates, ICICI Bank, NTPC, Tata Motors and Maruti also ended notably lower. SAIL, GAIL, Ambuja Cements and Ranbaxy closed with sharp losses.
Jindal Steel, HUL, TCS and ITC posted smart gains. Midcap and smallcap stocks were mostly subdued. The market breadth was weak.
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