Bombay stocks sagged into the weekend, dropping more than 1% after a strong open gave way to heavy selling in auto and drug stocks.
The BSE Sensex dropped 157 points to close at 11,589. The setback came after the index surged at the open and went on to set an all-time intraday high of 11,931. Even so, the Sensex rose 2.7% for the week and is up 8% over the last month.
The top loser on the BSE Sensex was software outfit
, which fell 4.8%. Bus and truck maker
dropped 3.7% and
fell 2.6%, small car manufacturer
dropped 2.5% and two-wheeler major
slipped 1.4%. Pharma major
fell 3.4%, rival
lost 2.9% and peer
gave up 1.7%.
The top gainer on the BSE Sensex was cement maker
, which added 5.8%. Software firm
rose 1.6% on the news that the board was considering a bonus issue. Chemical giant
shot up 18.5% on news of a price hike. Engineering company
Larsen & Toubro
rose fractionally after the company got some big orders from China. Pipe maker
rose on reports of an order from Oman for API grade steel pipes.
This story was created through a joint venture between TheStreet.com and IRIS.