Mumbai: Continuing its year-end downslide for the second day in a row, the stock market on Wednesday lost further ground with a 146-point fall in the barometer Sensex amid weakness in blue-chips like RIL, ICICI Bank and SBI. (Agencies)
The 30-share benchmark index settled with a 146.10 points or about 0.92 percent fall at 15,727.85 points.
The National Stock Exchange's 50-share Nifty index also dropped 0.94 percent or 44.70 points to close at 4705.80.
Among the heavyweights, ICICI Bank, Reliance Industries Ltd (RIL), ITC, SBI and HDFC were among the major losers, even as IT giant Infosys and public-sector majors NTPC and BHEL managed to buck the trend and registered gains.
Among the 30 Sensex stocks, Jindal Steel was the biggest loser with a fall of over 7 percent, while ICICI Bank fell about 4 percent.
SBI, Wipro, M&M and Hindalco lost over two percent each, while RIL was down 1.95 percent.
Stocks said that banking stocks are being hit on concerns that the bad loans might be increasing due to slowdown in the economic growth.
The stocks that managed to gain ground in a weak market also included Tata Power, Cipla, DLF and Coal India.
Among the sectoral indices, metal, banking, energy, auto and FMCG segments were among the worst-hit, while the indices for power and capital goods sectors were the only two gainers.
The stock market has been trading mostly with a downward bias so far in December, although the last month of the year has tradionally been a strong period.
The Sensex has dropped by about 250 points in the two consecutive sessions itself, while it had dropped more than 600 points on two straight days last week also.
Mumbai: Continuing its year-end downslide for the second day in a row, the stock market on Wednesday lost further ground with a 146-point fall in the barometer Sensex amid weakness in blue-chips like RIL, ICICI Bank and SBI.