Sensex drops by 185.24 points

The Nifty of the National Stock Exchange (NSE) too fell 61.80 points at 16,522.75.

The Sensex opened higher by 22 points at 55,588.27. During the day, it surged 225 points at 55,791.49, the day's high.

Later, it was dropped nearly 475 points at 55,091.43, the day's low, before closing at 55,381.17, sliding by 185.24 points from its previous close.

The Sensex registered the day's high and low at 55,791.49 and 55,091.43 points respectively.

The Nifty recorded the day's high and low at 16,649.20 and 16,438.85 respectively.
Sectoral indices like power, utilities, technology and realty stocks kept the market weak for another day.

In scrips, Nestle India dropped 2.99 per cent to Rs 17,238.50, a major loser in 30 scrips of the BSE, followed by Tech Mahindra by 2.86 per cent to Rs 1,147.05, Bajaj Finance by 2.63 per cent to Rs 12,575, Sun Pharma by 2.40 per cent to Rs 839.80 and HCL Technology by 2.10 per cent to Rs 1,018.50.

The gainers were M& M by 1.32 per cent to Rs 1,047.50, HDFC by 0.94 per cent to Rs 2,328.85, Kotak Bank by 0.90 per cent to Rs 1,870.80 and Tata Steel by 0.70 per cent to Rs 1,062.95.

The Mid Cap fell by 0.10 per cent while the Small Cap rose by 0.62 per cent.
In 30 scrips, 10 advanced while 20 declined.

The Asian Market was also seen weak. China fell by 0.13 per cent, Hong Kong by 0.62 per cent and Taiwan by 0.79 per cent. Japan rose by 0.65 per cent.

(With UNI inputs)