Mumbai: It was an extremely volatile session for the markets on the back of political uncertainty over the Indo-US nuclear deal. There was extreme political nervousness which took the markets in the red zone.
The markets started swinging abnormally after speculation that Left parties have decided to withdraw support to the UPA coalition government spread like a wild fire on Dalal Street.
Initially, the market had risen by 306 points or 2.15 per cent over last close on strong global cues. The Bombay Stock Exchange (BSE) barometer gyrated in a range of 14,554.93 and 14,128.72 before ending at 14,163.98, down 84.68 points or 0.59 per cent from Wednesday's close of 14,248.66.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) dipped by 38.20 points or 0.92 per cent to close at 4,114.95 from previous close of 4,153.15. All was fine till noon with indications of a strong surge in stocks on the back of an impressive turnaround in global markets, including the US, market players said.
The midcaps and small caps took it on the chin and ended with deeper cracks. The Sensex and Nifty swung sharply on both sides of the flat line. The Sensex swung nearly 400 points and Nifty swung over 100 points. The fall has come despite some positive cues from Asia and US equity markets.
There was heavy selling pressure across the board and all the key BSE indices ended in red except FMCG and IT socks. Banking stocks were severely hit and the Bankex ended with over 2 per cent cut.
The Sensex was down 84.68 points or 0.59 per cent at 14163.98 and the Nifty ended 38.20 points or 0.92 per cent down at 4114.95.
About 1076 shares advanced, 1861 shares declined and 70 shares remained unchanged. The BSE Midcap Index ended at 6,105.11 down 55 points or 0.90 per cent. The BSE Smallcap Index ended at 7,424.39 down 94 points or 1.3 per cent.
The BSE Capital Goods Index was closed at 12,336.67 down 0.5 per cent. Praj Industries, Punj Lloyd, Suzlon Energy, Thermax, Reliance Infra and SKF India closed lower.
The BSE Auto Index closed at 4,463.46 down 0.3 per cent. MICO, Escorts, Apollo Tyres, MRF, Tube Investment, Ashok Leyland ended in the red. The BSE Metal Index lost 1 per cent to close at 9,992.40. JSW Steel, Jindal Saw, Jindal Steel, Hind Zinc, Jindal Stainless declined.
BSE Oil and Gas Index closed at 7,385.15 down 1.7 per cent. ONGC, Essar Oil, Reliance Natural, GAIL, Reliance Petro, Petronet LNG closed in red. The BSE IT Index closed flat at 4,356.28. HCL Tech, Mphasis, I-Flex Solution, Wipro, TCS closed lower.
The BSE Bankex was down 2.2 per cent at 7,224.29. Oriental Bank, Kotak Mahindra, SBI, IOB and Centurion Bank closed lower. BSE Realty index was down 1 per cent at 6,752.71. Phoenix Mills, Anant Raj Ind, Parsvnath, Peninsula Land, Indiabulls Real were the top losers.
The BSE FMCG Index gained 1 per cent at 1,862.39. The NSE cash turnover was at Rs 11478.54 crore and the NSE F&O turnover was at Rs 56000.15 crore. The BSE cash turnover was Rs 4916.26 crore. Total market wide turnover was at Rs 72394.95 crore.
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