Indian equity indices witnessed huge volatility in intra-day trade and ended on a negative note. The domestic market started the day on a positive gap, but heavy selling pressure pushed the markets into the negative terrain.
The 30-share Sensex of Bombay Stock Exchange (BSE) lost 106.46 points, or 0.90%, and ended the day at 11,695.24 points. The broader S&P CNX Nifty of National Stock Exchange (NSE) ended with gain marginally at 3,606.60 points, adding 4.25 points, or 0.12%.
Dealers said that domestic markets bounced back from Monday?s lows and opened significantly higher, backed by Reserve Bank of India?s (RBI) strategic move of cash reserve ratio (CRR) cut, by 50 basis points. However, the markets failed to hold the initial gains and turned volatile to trade with negative bias as weak sentiments were not over yet and investors seemed confused.
The Sensex opened the day at 12,068.11 and swung 679.58 points in an intra-day trade. On Tuesday, Sensex touched the intra-day high of 12,181.43 and low of 11,501.85. Barring oil & gas, PSU and power, all the sectors in the BSE sectoral indices ended the day in the red, with IT and consumer goods (CG) being the worst performers of the day.
Out of 2,683 stocks traded on BSE, only 787 stocks advanced, 1,822 stocks declined while 74 stocks remained unchanged. In Sensex out of 30-stocks 14 stocks advanced and 16 stocks declined on Tuesday.
As per the provisional figures provided by BSE, foreign institutional investor (FII) were again net sellers at Rs 680.42 crore and domestic institutional investors (DII) were net buyers at Rs 548.29 crore.