After exhibiting sea-saw movement, the domestic market finally nosedived during final trading hours to close in red terrain.

The weakness in market, mainly witnessed due to severe selling pressure led by concerns over the economy and poor monsoons.

The BSE Sensex closed lower by 253.24 points or (1.84%) at 13,504.22 while NSE Nifty ended down by 77.05 points or (1.89%) at 4,003.90. The BSE Sensex touched intraday high of 13,897.19 and intraday low of 13,418.39.

Further, BSE Mid Caps and Small Caps indexes also closed the day with losses of 92.20 and 95.22 points at 4,718.59 and 4,234.50 respectively.

The market opened on Friday at pleasant note following mixed cues from the global markets. But, Indian stocks slipped from the day’s highs and turned a little volatile ahead of IIP data for May.

Further, benchmark indices continued to move between positive and negative territory though tried to sustain growth during afternoon session. However, during last trading session, it trimmed all gains on huge selling and descended sharply to end the day in red territory.

The losers from the BSE Sensex pack were Reliance Infra (6.50%), JP Associates (5.62%), RCom (5.43%), HDFC (4.66%), Sun Pharma (4.16%), Reliance (3.99%)M&M Ltd (3.88%), Hindalco (3.82%), SBI (3.64%) and ACC Ltd (3.51%).

The gainers from the BSE Sensex pack were Wipro Ltd (3.37%), Sterlite Industries (3.32%), Infosys Tech (2.97%), TCS Ltd (1.56%), Maruti Suzuki (0.70%) and HUL (0.23%).