The 30-share index BSE Sensex closed the day on a negative note owing to continued selling pressure witnessed across index heavyweights including J P Associates, State Bank Of India and DLF.

The stock market remained weak throughout the day following the global weakness, as unabated concerns over further declining of US and European economies continued to weigh on investor reaction.

The rejection was followed by lower volumes, as traders restricted activity because of holidays on Tuesday and Wednesday on account of “Id-E-Milad” and “Holi”.

Realty, FMCG and realty sectors, which were hammered badly, topped the loser charts.

BSE Midcap and Smallcap index also closed the day by losing 1.27% and 1.55% respectively.

BSE Realty, which lost 3.21%, underperformed all other sectors following FMCG that lost 2.78% and Bankex, which was down by 2.78%.

Indian stock market opened the day after losing 66.60 points at 8,259.22 on Monday.

Finally, the Sensex ended the day at 8,160.40, down 165.42 points, after hitting an intra-high of 8,259.22 and an intra-day low of 8,110.10.

In contrast, the broad-based NSE Nifty lost 47.00 points at 2,573.15 after touching an intra-day high of 2,621.25 and an intra-day low of 2,555.60.

The major gainers in the 30-share index included Housing Development Finance Corporation (2.65%), Maruti Suzuki India (0.25%), and Mahindra & Mahindra (0.22%).

The top losers were Jaiprakash Associates (5.32%), State Bank Of India (4.68%), DLF (4.54%), Ranbaxy Laboratories (4.46%), Sun Pharmaceutical Industries (4.08%), and Reliance Communications (4.03%).

Indian currency depreciated by 18 paise at 51.87/89 versus US dollar on Monday on pessimistic equity markets, continued capital outflows and dollar-buying by foreign banks.

European stocks opened negatively and continued to trade in red on fears of worldwide slump. HSBC Holdings lost 12% in London.

UK’s benchmark index FTSE 100 dropped 31.25 points at 3,499.48. French benchmark index CAC 40 fell 43.34 points at 2,491.21.

Germany’s benchmark index DAX lost 37.17 points at 3,629.24.