Negative opening in European markets have kept the markets subdued in afternoon after a brief recovery in the early noon trade. The BSE Sensex is down over 200 points.
Indices exhibited major volatility. Select banking shares rose, while realty and oil & gas shares languished in negative terrain. India’s top passenger care maker by sales Maruti Suzuki was the top Sensex gainer.
European markets, which opened after Indian markets, were mostly in red. Key indices in France and Germany were down by 0.18% to 0.47%. However, UK’s FTSE 100 was up 0.26%. Asian markets were negative with key indices in China, Hong Kong, Japan, Singapore, South Korea and Taiwan trading down by 0.03% to 2.62%.
At 13:20 IST, the BSE 30-share Sensex was down 221.93 points or 1.47% to 14,827.93. The index shed 283.85 points at the day’s low of 14,766.01, hit in mid-morning. It lost 55.71 points at the day’s high of 14,994.15 points, hit in afternoon.
The S&P CNX Nifty was down 39.20 points or 1.54% to 4434.80.
The BSE Mid-Cap index was down 0.21% at 5,824.62 and the BSE Small-Cap index was down 0.03% at 6,980.35.
The market breadth turned negative yet again. On BSE, 1135 shares advanced as compared to 1278 that declined. 86 shares remained unchanged.
India’s top passenger care maker by sales Maruti Suzuki rose 2.08% at Rs 678.30.
Tata Power Company (up 0.95% at Rs 1080), Hindalco Industries (up 0.97% at Rs 125), and Grasim Industries (up 0.73% at Rs 2017), were the other Sensex gainers.
Sterlite Industries (down 4.10% at Rs 610.50), ONGC (down 3% at Rs 1068.50), HDFC Bank (down 3.08% at Rs 1300.10), Housing Development Finance Corporation (down 2.56% at Rs 2382.60), and Reliance Infrastructure (down 2.37% at Rs 1018), were the leading losers from the Sensex pack.
Select banking shares rose. Karnataka Bank (up 4.89% at Rs 152.40), Federal Bank (up 3.66% at Rs 228), Punjab National Bank (up 0.82% at Rs 519), and State Bank of India (up 0.04% at Rs 1,522), rose. The BSE Bankex was up 0.42% at 7,415.50.
India’s largest private sector bank by market capitalisation ICICI Bank rose 0.52% at Rs 717. ICICI Bank stock accounts for third highest weightage of 7.50% on the Sensex.
India’s second largest software exporter by sales Infosys Technologies rose 0.39% at Rs 1782. Infosys Technologies stock accounts for second highest weightage of 8.16% on the Sensex.
India’s largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) fell 2.60% at Rs 2156.85. RIL stock accounts for the highest weightage of 15.21% on the Sensex.