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The biggest Nifty losers included Adani Enterprises, Coal India, Adani Ports, Power Grid Corporation and NTPC, while gainers were ITC, UltraTech Cement, HCL Technologies, Kotak Mahindra Bank and ICICI Bank
Though analysts attributed this correction as healthy, they expect the pain to stay in the near-term
The ITC block deal ruboff failed to clear the sentiment and markets are now sharply lower with the selloff in the broader market continuing for a third session due to concerns over valuations.
On the sectoral front, except IT all other indices ended in the red with realty index down nearly 3.5 percent, PSU Bank and Media indices down 2 percent each, while capital goods, FMCG, healthcare, metal and power indices fell 1 percent each.
Going ahead, analysts see stage set for Nifty to head towards 23,000 as sectoral rotation plays out, favouring largecaps over small-and midcaps
Within broader markets, PSU stocks and the real estate pack is under selling pressure, while Tata group stocks are extending the fall in today#39;s session.