However, aggressive buying in the realty and banking stocks helped the index to rebound into the positive zone and touched a day's high of 14,930, up 1,096 points from day's low.
It moved sideways for most of the trading sessions today. The index finally ended with a gain of 18 points at 14,302. The Nifty ended down five points at 4,318.
The market breadth was positive - out of 2,714 stocks traded, 1,927 advanced, 739 declined and 48 were unchanged today.
DLF zoomed 19.5% to Rs 385. SBI soared 11% to Rs 1,754. Reliance Communications surged 10.5% to Rs 316.
Grasim, Mahindra & Mahindra and Larsen & Toubro rallied 9% each to Rs 2,289, Rs 627 and Rs 1,346, respectively. Maruti Suzuki gained 8% at Rs 999.
ICICI Bank advanced 7% to Rs 759. ACC added 6.5% to Rs 750.
Reliance Infrastructure, ONGC, BHEL, Tata Steel, Sterlite, HDFC Bank and Tata Motors moved up 1-6% each.
Infosys plunged 12% to Rs 1,564. Wipro tumbled 9% to Rs 386. TCS slumped 8% to Rs 672.
Ranbaxy shed 6% at Rs 210. ITC dropped 5.5% at Rs 190.
Reliance, Hindalco, HIndustan Unilever, Jaiprakash Associates, NTPC, Bharti Airtel and Sun Pharma declined 1-5% each.
Other Prominent Gainers...
India Infoline and HDIL zoomed 25% each to Rs 143 and Rs 286, respectively. Reliance Capital soared 23% to Rs 910.
Aban Offshore, IVRCL Infrastructure & Projects, Ashok Leyland, Sintex Industries, Central Bank and Nagarjuna Construction Company were the other major gainers.
MphasiS plunged 13% to Rs 259. GlaxoSmithKline Pharma and Everest Kanto Cyllinder slumped 10% each to Rs 1,250 and Rs 162, respectively.
Cipla, Rei Agro, Sesa Goa, HPCL and Tech Mahindra were the other major losers.
Value & Volume Toppers
DLF led the value chart with a total turnover of Rs 897.37 crore. It was followed by Reliance Capital (Rs 580.14 crore), ICICI Bank (537.55 crore), Reliance (Rs 505 crore) and SBI (Rs 473.96 crore).
Unitech topped the volume chart with over 44 million shares traded. This was followed by IFCI (33.92 million), Reliance Natural Resources (30.36 million), DLF(24.07 million) and Suzlon (20.23 million).