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MUMBAI: The BSE benchmark Sensex today declined the most in more than 14 months by losing 431 points on across-the-board selling mainly in FMCG, capital goods, metal and auto stocks amid a surge in April trade deficit.

The Sensex fell 430.65 points, or 2.14 per cent, to 19,691.67, a biggest slump after February 27, 2012. The index had climbed to over three months high in the previous session.

Similarly, the broad-based National Stock Exchange index Nifty dropped by 126.80 points, or 2.08 per cent, to 5,980.45 led by stocks of ITC LtdBSE -5.31 % and Tata Consultancy Services.

The MCX-SX flagship index SX40 closed 228.64 points, or 1.92 per cent, lower at 11,662.34 points.

Brokers said the selling pressure, mostly of profit-booking nature, was so strong that all the index components in 30-BSE and 50-NSE closed with losses.

"Surge in April trade deficit, considerable rise in USDINR rates and finally Nifty trading in resistance zone around 6120 resulted in selling pressure at higher levels," said Milan Bavishi, Head Research, at Inventure Growth & Securities.

The country’s exports grew for the fourth consecutive month recording a growth of 1.6 per cent in April but surge in gold imports pushed up the trade deficit to USD 17.7 billion.

A weak trend in the Asian region and lower opening in Europe ahead of the US reports of retail sales and a weak dollar further influenced the market sentiment on the domestic front here, traders said.

ITC Ltd was the major loser of the day dropping 5.31 per cent to Rs 336.86 followed by TCS by 2.42 per cent to Rs 1,451.65, Tata MotorsBSE -3.27 % by 3.27 per cent to Rs 297.65, Larsen and ToubroBSE -2.96 % by 2.96 per cent to Rs 1,516.85.

Telecom major Bharti AirtelBSE -4.14 % declined by 4.14 per cent to Rs 311.65 and Gail India by 2.14 per cent to Rs 332.15.

The two most heaviest with their 15 per cent weightage, Reliance IndustriesBSE -1.27 % and Infosys lost 1.27 per cent to Rs 903 and by 0.92 per cent to Rs 2,340.35, respectively.

All sectoral indices led by FMCG and Capital goods closed in negative territory with losses up to 3.17 per cent.