The Sensex opened 99 points lower at 8,944, and exhibited weakness for most part of the trading day. Heavy selling in select banking and technology stocks dragged the index to a low of 8,763.

The index recovered partially towards the close on account of some short-covering ahead of the extended weekend holidays.

The Sensex finally ended with a loss of 199 points at 8,843. In the process, the index ended the week with a significant loss of over 6% (581 points).

The NSE Nifty ended at 2,736, down 53 points.

On Friday, the BSE Bankex plunged 3.5% to 4,299. The IT and Metal indices shed 2.7% each at 2,039 and 4,692, respectively.

The market breadth was fairly negative - out of 2,499 stocks traded, 1,637 declined, 775 advanced and the rest were unchanged.

INDEX SHAKERS...

ICICI Bank [Get Quote] slumped 7% to Rs 336. Reliance Communications [Get Quote] tumbled 4.5% to Rs 155.

Reliance Infrastructure, TCS [Get Quote] and Sterlite plunged around 3.3% each to Rs 491, Rs 474 and Rs 248, respectively.

Reliance and Mahindra & Mahindra also shed over 3% each to Rs 1,254 and Rs 281, respectively.

Larsen & Toubro and HDFC [Get Quote] dropped nearly 3% each to Rs 623 and Rs 1,354, respectively.

Tata Steel [Get Quote], Infosys [Get Quote] and Jaiprakash Associates [Get Quote] slipped around 2.5% each to Rs 168, Rs 1,178 and Rs 67, respectively.

Wipro [Get Quote] declined 2.3% to Rs 215. Grasim [Get Quote], HDFC Bank, Tata Power [Get Quote] and Hindalco [Get Quote] were down around 2% each at Rs 1,344, Rs 867, Rs 738 and Rs 39, respectively.

VALUE & VOLUME TOPPERS

Educomp Solutions [Get Quote] topped the value chart with a turnover of Rs 293.70 crore followed by Reliance (Rs 170.30 crore), United Spirits [Get Quote] (Rs 153.30 crore), ICICI Bank (Rs 127 crore) and SBI [Get Quote] (Rs 92 crore).

Satyam [Get Quote] led the volume chart with trades of around 1.44 crore shares followed by Firstsource (80.20 lakh), Wire & Wireless (76.67 lakh), Unitech (74.40 lakh) and Spice Tele (65.67 lakh).