Markets have seen a fall of over 1% on the frontline indices, with the heavyweights dragging down in the later half of the trade. The Sensex closed down 239 points at 18,802 and the Nifty gave off 75 points to close at 5,673.
Stocks from the major sectors of Realty, capital goods, auto and metals shed heavily during the trade. Although the stocks were in red from the morning, much of the cuts were seen in the late half an hour of the trade. However pharma and FMCG shares managed to surge today.
Shares of Adani Power led the rally in the Power sector. The stock closed around 9 percent higher at Rs 47.65, after a favourable verdict from the Central Electricity Regulatory Commission (CERC) on tariff hike.
The midcap index managed to close down by 1% while the smallcap index continued to weaken by 0.6%.