The Sensex opened 43 points lower at 14,681. After the initial weakness, the index rebounded into the positive zone and touched a high of 14,825. The index, however, could not hold gains and slipped back into the negative zone.
Considerable weakness in energy and metal stocks saw the index drop to a low of 14,601 - down 224 points from the day's high. The Sensex finally ended with a loss of 78 points at 14,646.
The market breadth was fairly negative - out of 2,676 stocks traded, 1,668 declined, 930 advanced and 78 were unchanged on Monday.
The BSE Oil & Gas index shed 2% at 9,997, and the Metal index dropped 1.8% to 12,364.
The NSE Nifty was down 38 points at 4,393.
INDEX SHAKERS. . .
Hindalco and Grasim plunged 4.5% each at Rs 130 and Rs 1,964, respectively.
Reliance Communications shed 2.7% at Rs 412. ACC and Mahindra & Mahindrra dropped 2.5% each to Rs 594 and Rs 568, respectively.
Reliance and Tata Steel slipped over 2% each to Rs 2,225 and Rs 603, respectively.
Jaiprakash Associates and ITC were down nearly 2% each at Rs 169 and Rs 188, respectively.
. . .AND THE MOVERS
HDFC surged over 3% to Rs 2,360. HDFC Bank rallied over 2% to Rs 1,200.
Satyam moved up 1.8% to Rs 419. Larsen & Toubro, TCS and Hindustan Unilever were up over 1% each at Rs 2,695, Rs 842 and Rs 242, respectively.
VALUE & VOLUME TOPPERS
Reliance Capital topped the value chart with a turnover of Rs 266.30 crore shares followed by Vishal Info (Rs 231.80 crore), Reliance (Rs 210.35 crore), Reliance Natural Resources (Rs 186.80 crore) and Larsen & Toubro (Rs 161.55 crore).
Reliance Natural Resources led the volume chart with trades of around 1.50 crore shares followed by Reliance Petroleum (83.60 lakh), Vishal Info (75.35 lakh), Kashyap Technologies (62.20 lakh) and IFCI (53.60 lakh).