Nifty ends below 14,450 and the Sensex dives almost 550 points, dragged by IT, Pharma Energy and Financial stocks.
At close, the Sensex was down 549.49 points or 1.11 per cent at 49,034.67 and the Nifty was down 161.90 points or 1.11 per cent at 14,433.70.
About 1070 shares have advanced, 1897 shares declined and 139 remain unchanged.
On the Nifty 50 index, Tata Motors (6.20 per cent), Bharti Airtel (3.81 per cent), UPL (2.58 per cent) and ITC (1.73 per cent) were the top gainers for the day, while Tech Mahindra (-4.30 per cent), GAIL (-3.82 per cent), HCL Tech (-3.69 per cent) and Wipro (-3.48 per cent) were the top losers for the day.
The BSE Smallcap and Midcap indices fell 1 per cent each.
On the sectoral front, all the sectoral indices ended in red led by Nifty IT, Nifty Pharma, Nifty Energy and Nifty Bank.
Author’s View: Nifty continues to see resistance at 14,600 level and dives to 14,360 level on intraday basis. If Nifty closes below 14,360 level then it may further correct till 14,000 level. On the upside, if Nifty closes above 14,600 then there may be a continuation in the uptrend.