DMK pull-out jolts Sensex

Last Updated: Tue, Mar 19, 2013 10:12 hrs

Despite a 25-basis points cut in Repo rate, the market plunged on Tuesday, amid political concerns after the DMK pulled out of the UPA coalition.

Weak European markets and summons issued on top firms in the 2G case added to the woes.

The Sensex, which plunged to 18,939.47, ended the day at 19,010.75 (provisional) with a loss of 282.45 points or 1.46%.

The Nifty closed at 90.55 points or 1.55% at 5744.65.

Rate sensitive bank, realty and automobile stocks saw some buying early on, but wilted later on in the session.

Capital goods, metal and PSU stocks mostly ended with sharp losses.

Oil, power and consumer durables stocks too closed weak.

IT and FMCG stocks failed to hold at higher levels.

Select pharma stocks bucked the trend.

Midcap and smallcap stocks ended mostly lower.

The market breadth was very weak.

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