Mumbai: Markets closed in the negative following weak cues from Chinese market as Shanghai index slumped over 7% on Wednesday. Also, caution still prevailed before the expiry of July Futures and Options contracts tomorrow.
Third highest trade turnover was also recorded today at Rs1.47 trillion, the second highest recorded was on 18 October, 2007 at Rs1.48 trillion.
The Bombay Stock Exchange benchmark Sensex opened lower tracking mixed global cues. However, markets managed to recover on some buying in key stocks, before once again losing ground.
Among various segments, realty, consumer durable, metal, FMCG, capital goods and pharma stocks contributed to most of the selling while, IT and oil & gas stocks witnessed some buying.
The BSE Sensex ended below 15,200 level and NSE Nifty closed below 4,550 mark.
The 30-share Sensex closed lower by 158.48 points at 15,173.46 and the 50-share Nifty ended down by 50.60 points at 4,513.50.
Leading the losers on the BSE Sensex was DLF Ltd down by 6.58% to Rs398.05, Tata Steel by 5.77% to Rs441.90, Sterlite Industries by 5.53% to Rs621.15, Sun Pharma by 5.24% to Rs1,188.25, Tata Motors by 4.96% to Rs393.65, Grasim Industries by 4.03% to Rs2,722.75 and Reliance Infra by 3.79% to Rs1,164.10.
Stocks of Tata Consultancy Services Ltd led gains by 4.18% to Rs499.80, followed by Tata Power by 2.91% to Rs1,302.45 Mahindra & Mahindra Ltd by 2.31% to Rs841.80, Hindalco by 1.28% to Rs94.65 and Reliance by 0.84% to Rs1,926.30.
In Asia, markets ended mostly lower. While Japan’s Nikkei gained 0.36%, Hong Kong’s Hang Seng lost 2%. Chinese stocks plunged sharply after the Chinese government cut gasoline prices, which accelerated selling of metal, energy and realty stocks.