Sensex tanks over 420 points, Nifty cracks below 11,000

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New Delhi, Feb 08 : Markets ended deep in the red on Friday owing to a steep decline in auto stocks led by Tata Motors, profit booking and broadly negative global cues.
The BSE Sensex plunged 424.61 points to end at 36,546.48 while the NSE Nifty cracked 125.80 points to 10,943.60.
Shares of Tata Motors plummeted 17.28 percent at close after the company reported its biggest ever quarterly net loss of Rs 26,960.8 crore for the third quarter ended December 31. The auto major’s stock plunged 22.41 per cent to Rs 141.90 — its 52-week low — on the BSE. On the NSE, it cracked 29.45 per cent to Rs 129 — its one-year low.
Other laggards included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 percent.
Kotak Bank, Bharti Airtel, HCL Tech, HDFC Bank, Bajaj Finance and Hero MotoCorp rose up to 0.95 percent.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 418.01 crore Thursday, and domestic institutional investors (DIIs) were net buyers to the tune of Rs 294.11 crore, provisional data available with BSE showed.
During the week, the Sensex gained 77.05 points, or 0.21 percent, while the Nifty rose 49.95 points, or 0.45 percent.

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