Markets end deep in red, Sensex sheds 833 pts

IN THE RED: The market breadth was weak in the favour of declines.

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Mumbai: It was yet another weak and extremely disappointing day for the markets on Monday. The markets opened with huge gap down on the back of disappointing listing of much-awaited Reliance Power coupled with weak cues from the global markets.

The Sensex and Nifty traded under deep pressure for most part of the day and ended with substantial losses.

Reliance Power ended with sharp cut of over 17 per cent on its maiden trading day. It got listed at Rs 430 against its issue price of Rs 450.

All the key BSE indices ended deep in red led by oil & gas, metal, power, realty and bankex. Market breadth was extremely poor with low volume.

IT stocks were the star performer's in todays trade and the leading counters could manage to hold in green.

The Sensex ended down 833.98 points or 4.78 per cent at 16630.91, and the Nifty was down 263.35 points or 5.14 per cent at 4857.

On BSE, about 352 shares advanced, 2610 shares declined, and 49 shares were unchanged.

A fresh wave of selling pressure hit the markets taking Nifty back below 200 days daily moving average once again. The IT index also slipped in red and joined its peers who were reeling under pressure since the opening.

Reliance, Rel Comm, L&T, NTPC, ICICI bank and DLF are some of the very active counters in terms of value. On the volume front, some of the most active counters are NTPC, ITC, Rel Comm, HUL and Reliance Energy.