Mumbai: The 30-share BSE Sensex managed to recoup more than half of its losses in the last couple of hours of trade on Thursday, following a recovery in European markets. Bharti Airtel, SBI, Infosys and Tata Steel made a sharp rebound. The BSE Sensex dropped 148.45 points, to close at 16,936.89, after showing 192 points recovery from day's low of 16,744.99. The 50-share NSE Nifty fell 47.25 points, to end at 5,091.90.
European markets like France's CAC, Germany's DAX and Britain's FTSE, lost 1.5 to 2 per cent in early trade. They were trading down 0.5 per cent at the time of closing of Indian markets. The poor performance was on account of French President Nicolas Sarkozy's statement that talks to tackle the euro zone debt crisis have stalled. There was a disagreement among policy makers as banks lobbied against forced recapitalization and deeper writedowns on Greek debt.
Back home, private banks, capital goods, oil & gas, private financial, realty, power, select technology, auto and metal stocks witnessed selling pressure.
HDFC though remained on top of the selling list, falling over 4 per cent post National Housing Bank (NHB) notification, which said there should not be penalty on pre-payment of loans from housing finance companies and should have uniform interest rates for all customers irrespective of the time of loan taken.
Shares of country's largest private sector lender ICICI Bank fell 3 per cent. However, SBI gained 0.9 per cent at close after claims that finance ministry is finalising massive PSU bank recap plan. There are talks that the government is going to hike its stake in PSBs significantly, following which PNB rose 0.4 per cent.
DLF, IDFC and Jaiprakash Associates were among top four losers, ending 3.5 per cent lower.
From the capital goods space, BHEL was down 2 per cent and L&T lost 1 per cent.
From the oil & gas space, Reliance Industries and ONGC declined more than 0.5 per cent, which showed smart recovery from day's low. In the technology space, Wipro slipped 0.85 per cent and TCS declined 0.4 per cent while Infosys jumped 0.7 per cent.
Coal India, Tata Motors, Sterlite Industries and Cairn India were down 1.5-2.4 per cent.
Bharti Airtel, Tata Steel, JSPL, Sun Pharma, Maruti and HCL Tech were up 1-1.75 per cent.
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