Sensex closes 291.90 points in red

Similarly,the 50-share National Stock Exchange index Nifty lost 99.85 points at 4,291.10,after moving between 4,426.75 and 4,267.35 points during the day.

Market-heaviest Reliance Industries fell 2.95 per cent to Rs 2,023.35,Infosys Technologies 0.38 per cent to Rs 1,776.90,ICICI Bank 3.57 per cent to Rs 722,BHEL 1.38 per cent to Rs 2,204.35,Tata Motors 7.23 per cent to Rs 291.15 and Sterlite Industries 6.01 per cent at Rs 607.85. All the six together carry nearly 40 per cent weight in the key index.

A weak start at European stock markets also influenced trading sentiment to some extent.

The current fall pared the gains in the benchmark,which had performed extremely well this quarter,traders said.

They said investors seen liquidated their holdings to raise funds for the coming initial public offerings IPOs led by Mahindra Resorts and Holidays.