Indian equities dropped on yesterday (Sep 26) on account of weak Asian markets as US Congress failed to come out with a conclusion on the $700 billion plan to bail-out its financial segment.

Realty, metal, banking and power stocks recorded huge losses. Each sector plummeted 4-6%. 

Midcap and Smallcap index shed 2.99% and 3.11% respectively.

The 30-share index, BSE Sensex (on Friday) opened negatively at 13,481.85, down 65.33 points, whereas the NSE Nifty opened at 4108.75. 

Asian stocks dropped for the fourth consecutive day after discussions on the $700 billion US financial bailout plan deferred, Washington Mutual was clutched in the largest US bank failure, and shipping rates declined the most during the last 23 years.

The Sensex closed the week after losing 445.00 points at 13,102.18. It also hit an intra-day high of 13,486.20 and an intra-day low of 13,054.42. 

In contrast, the broad-based NSE Nifty dropped 125.30 points to end the week at 3,985.25. It also touched a n intra-day high of 4,110.70 and an intra-day low of 3,970.35. 

The overall market breadth was very weak. Out of the total 2,673 stocks traded at BSE, 2172 stocks ended negatively, 442 stocks recorded gains while 59 remained unchanged.

Most active counters on the bourses were ITC, which gained 2.04%, Hindustan Unilever climbed 1.18% and ACC zoomed 0.42%. 

Major losers, which dragged the Sensex down included Ranbaxy Laboratories, which lost 8.04%, Sterlite Industries (India) that dropped 6.28%, ICICI Bank plunged 5.83%, Grasim Industries declined 5.72%, Hindalco Industries plummeted 5.17% and Mahindra & Mahindra fell 5.06%. 

For the week ended September 13, inflationary data remained unchanged at 12.14%, as compared to the last week figures.