Sensex back in deep red; nosedives 327 pts in volatile trade
After recouping around 400 points from yesterday's mega fall in morning, the benchmark BSE Sensex plunged back into the negative zone in late morning deals and was down by 326.88 points at 25,414.68.
The index slipped in late morning trade following sustained selling seen in teck, power, healthcare, IT and capital goods sectors, despite buying still seen in oil&gas, metal, realty, banking and FMCG stocks.
The BSE Sensex resumed higher at 25,916.26 and moved in a range of 25,351.19 and 26,124.83 before quoting at 25,414.68 at 1130 hrs, a fall of 326.88 points or 1.27 per cent.
The 50-share Nifty was trading lower by 103.60 points or 1.33 per cent to 7,705.40 at 1140 hrs.
The market is expected to remain volatile in the near future as traders roll over their positions in the futures & options (F&O) segment from the near month August series to Sept.
The near month derivatives is set to expire on Thursday. Major losers were, BHEL 5.79 per cent, Cipla 4,.19 per cent, Lupin, 4.06 per cent, Bharti Airtel 4.01 per cent, Vedanta 3.55 per cent, Maruti Suzuki 3.30 per cent. However, gains in Coal India 2.60 per cent, Axis Bank 1.65 per cent, HUL 1.00 per cent, RIL 0.49 per cent cushioned some loss.
Meanwhile, Foreign investors sold shares worth Rs 5275.40 crore yesterday.
At overseas, most Asian stocks were trading lower. Keybenchmark indices in Hong Kong, Singapore, South Korea and Taiwan were off by up to 2.50 per cent. In mainland China, the Shanghai Composite was down 6.48 per cent.