After a volatile trading session, the domestic bourses ended the day in the red again. The benchmark index turned weak as heavy selling gripped the frontline counters due to profit booking by investors mainly in stocks of telecom, banking, metal and capital goods sectors. The 30-share Sensex ended the day at 19,400.67 points, down 190.11 points or 0.97%.
Earlier in the day, the markets opened firm in view of the positive cues from Asian markets and touched an intra-day high of 19,919.34 points before succumbing to the intense selling pressure. On the other hand, the Nifty ended the day at 5,786.50 points, witnessing a fall of 60.8 points or 1.04%.
Amitabh Chakraborty, president equity of Religare Securities, said, ?The market went down mainly because of profit taking by investors. Lack of any positive cues here on will result in periodic profit booking and we can expect the market to be highly volatile in November. However, we hope the Nifty will touch the 6,200-mark in this month itself as the second quarter results of India Inc have been impressive and liquidity is still very high in the market.?
As per the provisional figures released by the stock exchanges, foreign institutional investors (FIIs) were net buyers worth only Rs 7.62 crore on Tuesday.
The market breadth in BSE turned negative as the trading progressed with 1,606 declining. Among the index constituents, 18 stocks closed in the negative while 12 managed to gain ground.
Among the telecom stocks, RCom shed 4.35% or Rs 33.90 at Rs 745.40 while Bharati Airtel closed at Rs 918.45, losing Rs 23.75 or 2.52%. L&T came down to Rs 4,125.70, losing Rs 161.60 or 3.77% and pulling down the BSE capital goods index by 354.99 points or 1.77% to close at 19,697.29 points. BSE Bankex was down by 221.44 points or 2.01% at 10,786.51 as ICICI Bank lost Rs 30.05 or 2.36% to close at Rs 1,240.80.