Mumbai: Markets closed a volatile session on negative note on Wednesday due to profit-booking after Tuesday’s rally and cautious sentiments of investors ahead of unpredictable exit polls for 15th Lok Sabha elections.
The Bombay Stock Exchange benchmark Sensex opened in green but only to immediately turn volatile tracking mixed US stock markets. Then trading remained choppy on mixed global cues and political concerns over uncertainties prior to election results on 16 May.
Markets did regain briefly but slipped again to end the day 1.14% down. The 30-share BSE index closed lower by 138.38 points at 12,019.65 and the 50-share NSE Nifty ended down by 45.85 points at 3,635.25.
Among sectors, all indices ended in red barring consumer durables stocks. Metal, IT, FMCG, PSU, oil & gas and bank stocks suffered most of the selling pressure.
Leading the losers on the BSE index was Tata Steel, lower by 3.67% to Rs265.35, along with Sterlite Industries by 3.46% Rs475.25, ONGC Ltd by 3.44% to Rs852.50, Jaiprakash Associates by 2.90% to Rs137.20, Maruti Suzuki by 2.67% to Rs837.75, State Bank of India by 2.57% to Rs1,262.15, Mahindra & Mahindra Ltd by 2.40% to Rs510.20 and Tata Consultancy Services Ltd by 2.36% to Rs622.45.
Realty giant DLF’s stocks dropped by 1.59% after news came in that company promoters sold 9.9% stake to raise funds and save DLF Assets.
Among gainers, on top was ACC Ltd by 3.37% to Rs614.85, Housing Development and Finance Corp by 3.03% to Rs1,897.10, Grasim Industries by 1.83% to Rs1,803.20, Ranbaxy Lab by 1.05% to Rs177.50, Hindalco by 0.92% to Rs71.10 and Tata Motors by 0.52% to Rs268.30.
Asian markets ended mostly up with rise in oil companies on stronger crude prices. Japan’s Nikkei gained 0.5% and Hong Kong’s Hang Seng closed 0.55% lower as banks reversed trade.