Bajaj Finance was the top laggard in the Sensex pack, dropping over 9 per cent, followed by Axis Bank, IndusInd Bank, HDFC, ICICI Bank and M&M. Reliance Industries, however, capped the losses by rallying over 3 per cent. Sun Pharma, Hero MotoCorp, L&T, PowerGrid and Bajaj Auto were also among the gainers.
The Sensex was mainly dragged by Tata Motors, ICICI Bank, Bharti Airtel and Reliance Industries -- shedding as much as 4.60 per cent.
Engineering firm Larsen and Toubro (L&T) on Friday said it has floated a power generation arm called L&T Power Development and would invest Rs 20,000 crore (Rs 200 billion) in the new company.
All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.
The broader NSE Nifty index too finished lower by 4.80 points, or 0.05 per cent, at 10,632.20.
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
Two major hydel projects being built by construction majors GVK and L&T have suffered severe damages in the floods which hit Uttarakhand last week.
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