Stock markets were in bear grip as profit-booking dragged indices lower across the globe. 

The BSE Sensex declined 400 points, to end below the 52,000-mark at 51,704 levels. Losses in heavyweights such as HDFC Bank, HDFC, TCS, Infosys, HUL, and Asian Paints dragged the index nearly 300 points down today. On the NSE, the Nifty50 index ended below the 15,250-mark at 15,209 level, down 104 points or 0.68 per cent.

Overall, Nestle (down 3 per cent), Maruti Suzuki, Asian Paints, Bajaj Finserv, HDFC Bank, and IndusInd Bank were the top losers on the BSE barometer. However, gains of 3 per cent in State Bank of India, and up to 2 per cent in Power Grid, Reliance Industries, Bajaj Auto, and Axis Bank helped trim losses.

The broader markets, however, bucked the trend and ended higher. Riding on up to 20 per cent gains in Bank of Maharashtra, Indian Overseas Bank, Central Bank of India, Greaves Cotton, and Shankara Building Products, the BSE SmallCap index ended 0.5 per cent higher. Meanwhile, the mid-cap counterpart settled 0.02 per cent up.

On the sectoral front, IT and pharma stocks bore the maximum impact with the Nifty IT and Pharma indices closing 1.3 per cent and 1.7 per cent down, respectively. The Nifty Financial Services and FMCG indices, too, ended up to 1 per cent down. On the upside, the Nifty PSU bank index settled around 6 per cent higher on privatization hopes.

Draft Blue Economy Policy: suggestions are invited till Feb 27

ICICI Lombard joints with Flipkart to offer group insurance policies

Adani Ports takes over Dighi Port, earmarks Rs 10K cr for new gateway into Maharashtra