On the 30-stock Sensex platform, ITC plunged 3.87 percent after the company’s board of directors approved in principle the spin-off of the hotel business. The board also approved the establishment of a wholly owned subsidiary, ITC Hotels Limited. Kotak Bank, TechM, JSW Steel, Tata Steel, HUL were among the other losers. On the other hand, IndusInd Bank, M&M, PowerGrid, Bajaj Finserv, Ultracemco and L&T emerged as winners.

In the broader market, the BSE Midcap index rose 0.3 percent, while the Smallcap index rose only 0.1 percent.

Overall, the market breadth was marginally negative, with over 1,900 stocks falling versus 1,760 stocks rising on the BSE.

On a sectoral basis, the FMCG index lost nearly 2 percent, and oil & gas, banks and metals fell 0.5 percent each. On the other hand, the power and capital goods indices rose 0.5 percent each.