New Delhi [India], Sep 29 : The market on Thursday posted one of the biggest one-day falls of the last three months.
The Nifty falls below 8600 for first time since August 26. The index fell 153.90 points or 1.8 percent at 8591.25, while the Sensex traded down 465.28 points or 1.6 percent at 27827.53.
Shares such as ITC and ONGC were among the top gainers, while BHEL fell over seven percent. Also, Adani Ports, Tata Steel, ICICI Bank and Lupin were other losers in the Sensex. The steel market remained steady today as prices continued to move in narrow range in scattered deals and settled around previous levels.
Traders said adequate stocks position against limited deals from construction units kept steel prices at previous levels.
Total turnover of the market crossed Rs. 11 lakh crore, including NSE F (and) O turnover of Rs. 10.63 lakh crore on expiry day for September futures and options contracts. On the other hand, Tata Steel is planning to initiate second phase expansion at Kalinganagar plant in Odisha to double its capacity to six mtpa, but has no proposal to set up another green-field steel plant in immediate future.