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New Delhi: The markets closed in red but pulled back from the day's low on account of some renewed buying in select index pivotals.
The BSE Sensex closed with a loss of over 350 points and the Nifty was down 110 points.
The BSE Sensex closed at 10,398.6 down 388 points.
The NSE Nifty was down 114 points at 3,071.
The BSE Midcap was down 2.74 per cent at 5,052.44 and the BSE Smallcap was down 4.06 per cent to close at 6,364.29.
The overall market breadth was negative, about 361 shares have advanced, 1,987 shares declined and 41 shares are unchanged.
Wednesday's fall can be attributed to weakness in the global market; the emerging as well as the US markets closed down.
Heavy selling was seen in scrips across sectors. All the BSE indices closed in red.
The metal and the FMCG index were worst hit.
Among major losers on the indices are ONGC, Grasim, ITC, Tata Steel, MTNL and SAIL.
The FMCG index closed with a loss of 4.85 per cent at 1,889.60.
Stocks like Shaw Wallace, ITC, Nestle, Dabur India and Nirma witnessed selling pressure.
The BSE Bankex slipped 4 per cent at 4,769.87.
Stocks like ICICI Bank, IOB, UTI Bank, Bank of India and Oriental Bank dragged.
The oil & gas index was down 1.98 per cent at 5,085.29.
Stocks like ONGC, MRPL, Kochi Refinery, BPCL and IOC closed low.
The metal index lost 4.31 per cent to close at 8,669.59. Stocks like Nalco, Tata Steel, JindalStainless, Sesa Goa, Guj NRE Coke and SAIL tumbled.
The capital goods index sank 3.8 per cent to close at 7,343.03.
Stocks like BEML, Bharat Electronics, L&T, Gammon India, KEC Infrastructure and Crompton Greave slid.
The IT index was down 3.66 per cent and closed at 3,642.67.
Stocks like I-Flex Solution, Wipro, TCS, Infosys and HCL Tech plunged.
The consumer durables index was down 2.77 per cent at 3,052.30. Stocks like Whirlpool, Su-Raj Diamonds, Samtel Color and Titan Industries witnessed heavy selling.
The health care index lost 2.62 per cent to close at 3,387.94. Stocks like Cadila Health, Wockhardt, Lupin, Divis Labs and Cipla dropped.
The auto index lost 1.97 per cent and closed at 4,812.05.
Market summary:
* Sensex Recovers 300 Points,~Ends 364 Points Down At 10,421
* Nifty Recovers 100 Points~Ends 110 Points Down At 3,074.45
* BSE FMCG Index Down Nearly 5%;~ITC Down Over 6.5 per cent
* BSE Metal Index Down 4.3 per cent; Tata Steel Down 5.6 per cent
* All BSE Sectoral Indices End~In The Red
* NSE Advance-Decline Ratio~At 1:6.5
* DR Reddy's off day's low, declares 1:1 bonus
* CNX Midcap index down 1.4 per cent
* Markets~In May: Sensex Witnesses Third Biggest~Monthly Fall, Down 13.67 per cent
* Markets~In May: India Worst Performing Emerging~Market
The NSE cash turnover was Rs 7,992.83 crore and the NSE F&O turnover stood at Rs 28760 crore.
The BSE cash turnover stood at Rs 3,523.52 crore.
The total market was Rs 40,276.35 crore.
Utpal Choudhury, IDBI Capital: Markets are likely to be lackluster in the short term.
The cues from the future and option suggest the sentiment is bearish which is evident from the fresh short position build up especially in Nifty futures.
FIIs have been net sellers in both cash & futures in the last two days and the dealers expect mkts to be ranged with negative bias in short-term
According to the Finance Minister stock volatility is due to global the factors and the FIIs are still keen to invest in India.
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