Markets started off on the Bharath Bundh day with a 200 points gap down following political uncertainty. The opposition BJP has called for the nation wide bandh, protesting the recent hikes in the Diesel prices and allowing FDIs in the retail and aviation sectors.
The Sensex has fell 109.27 points to 18,386.74 and the NSE benchmark declined 35 points to 5,564.95. The Indian rupee too depreciated by 36 paise to 54.37 against the US dollar.
Axis Bank, State Bank of India, PNB, Bank of Baroda, Reliance Infrastructure, BHEL, Tata Steel, Tata Power, Tata Motors, Sesa Goa, Sterlite Industries, Reliance Industries, L&T and, HDFC and IDFC were down 1-2.5%.
ITC, HUL, TCS and Asian Paints were trading higher in early trade.
HCL Tech surged 2%.
Pantaloon Retail lost 7% on concerns over FDI approval in retail sector.