Tatas, Adani, Bharti, HDFC and Sun Groups have clocked huge gains.
This was the biggest single-day fall for the benchmark index since August 10 when it had fallen by 310 points.
Domestic market is losing its trend to rate sensitive stocks post the announcement of the new RBI governor who is likely to maintain a cautious stance on interest rate cut
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
The 50-issue Nifty fell 29.60 points or 0.34 per cent to close at 8,642.55
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Tata Motors was the worst performer on the Sensex, plummeting 10.32 per cent to Rs 436.55 after the company reported a steep 96.22 per cent decline in consolidated net profit for the December quarter.
Textile and telecom shares have gained ahead of the Cabinet meet later today which is likely to announce new measures for both the sectors.
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Railway Board Chairman Arunendra Kumar said the discussions at the day-long meet involved an overview of five models of participative policy, framework of engineering, procurement and construction contracts and sectoral guidelines for foreign and domestic investment.
After touching a fresh all-time low against the US dollar on Thursday, the rupee jumped 27 paise to end at 68.46.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
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Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 50-share NSE Nifty was trading lower by 24 points.
'Amid the different versions of truth on the Ishrat case, what is certain is that Ishrat's mother Shamima Kausar, who has continued to maintain that Headley's confession was nothing but an attempt by powerful people to save themselves in the case, is unlikely to find a closure anytime soon.'
This surpassed its previous record close of 29,974.24, reached on April 5.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Shares of RIL ended 2.4% higher as it pips TCS to become most valued firm
Financials emerged as the top gainers while auto shares rallied on robust September sales
Top gainers among the S&P BSE Sensex include GAIL, Dr Reddy's Laboratories and Bharti Airtel, all edging up by 1% in late morning deals
Can the poll outcome be a trigger for a meaningful correction?
Tata Motors was the top gainer on better-than-expected June quarter revenues
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
With inflation down, the government's twin deficits are largely under control.
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
Gains were led by Tata Motors amid robust sales in June along with select financials.
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
The S&P BSE Sensex surged 160 points to close at 25,262.
The broader markets were also in top gear, with the BSE midcap index surging by 2.1% at 11,431 and the smallcap index gaining 1.4% at 11,735.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The Sensex and the Nifty witnessed biggest one day loss in percentage terms since June 24
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
For retail investors who are into direct stocks, buying one when it enters the index can be a good strategy.
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