Domestic equity benchmarks clocked their worst single-day performance in seven weeks paced by losses in Tata Motors which came under intense selling pressure after it reported biggest quarterly loss ever of Rs 26,993 crore on account of an asset impairment charge of Rs 27,838 crore for its subsidiary Jaguar Land Rover.
The SP BSE Sensex fell 1.15 per cent or 425 points to 36,546 and the NSE Nifty 50 Index slumped 1.14 per cent or 126 points to 10,944.
Tata Motors alone contributed 57 points towards decline in the Sensex.Seventeen of 19 sector gauges compiled by BSE ended lower led by the SP BSE Metal and SP BSE Auto indices' over 3 per cent decline.
On the flipside, SP BSE Telecom Index was top gainer, up 1.74 per cent.For most part of the day benchmarks traded with a negative bias and extended losses in the last 30 minutes of trade after selling pressure intensified in auto, metal, housing finance, PSU bank and media shares.Broader markets also faced selling pressure as the Nifty Midcap 100 Index fell 1.47 per cent and the Nifty Smallcap 100 Index tumbled 1.63 per cent.Top Five Nifty Losers:Tata Motors down 18 per cent at Rs 150.15Indiabulls Housing Finance down 7 per cent at Rs 607.30Vedanta down 5 per cent at Rs 154.60Grasim Industries down 5 per cent at Rs 714.50Eicher Motors down 4.99 per cent at Rs 20,812Top Five Nifty Gainers:Bharti Infratel up 7.55 per cent at Rs 328.95Kotak Mahindra Bank up 1.09 per cent at Rs 1,298.55HCL Technologies up 0.48 per cent at Rs 1,068Bharti Airtel up 0.39 per cent at Rs 312.35Cipla up 0.34 per cent at Rs 534.70