The markets ended the February F&O expiry day on a negative note. The markets through out the day remained extremely volatile. The Sensex provisionally ended at 18,056, down 89 points and the 50-share Nifty ended lower 27 by points at 5,478 levels.
In Asia most of the markets ended on a mixed note, Hang Seng shed 168 points at 21,380, Taiwan shed 64 points at 7,937 levels. Shanghai ended flat at 2,410 levels and the Nikkei jumped 41 points to 9,595 levels.
Back home, Sterlite Industries was the top loser among the Sensex stocks, down 4.3% to Rs 115 extending its previous days 6% fall, on reports of the merger of a group company, Sesa Goa, with itself.
Bharti Airtel shed 2.4% to close at Rs 339 on reports that Econet Wireless is seeking at least $3.1 billion in damages from the company in a dispute over ownership of its subsidiary Airtel Nigeria.
Mahindra & Mahindra, Maruti Suzuki, DLF, L&T and ICICI Bank were also among the laggards.
On the other hand, HUL, BHEL, NTPC, Reliance Industries, Tata Power and TCS were among the notable gainers.
On the sectoral front, realty, metal and auto stocks were amongst the worst hit in trades today. the BSE Realty index was the top sectoral loser, down 2% or 42 points at 1,982 levels. Metal index lost 1.6% to 11,924 and the Auto index also shed nearly 1% at 10,084.
At the same time, FMCG, Power, Oil & Gas and Consumer Durables indices ended higher in trades today.
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(Updated at 1430 hours)
Markets have recovered from the intra-day low levels and are trading firm in the late noon deals on the back of firm European cues and buying visible in the power, FMCG and oil & gas stocks. The Sensex is up 18,214, up 70 points and the Nifty is at 5,526, up 20 points.
Earlier in the day, the sensex touched the low of 18,005 levels.
The European markets opened on a firm note. CAC is up 10 points at 3,458, DAX has advanced 14 points at 6,857 and the FTSE is up 8 points at 6,200 levels.
Back home, BHEL is the top Sensex gainer, up 2.4% at Rs 314. HUL has jumped 2% to Rs 386. Tata Power, SBI, Tata Motors, index heavyweight Reliance industries, NTPC, TCS, Tata Steel, ITC, Infosys and Gail India are also trading higher by 0.3-1.8% each.
On the other hand, Sterlite Industries, Hero MotoCorp, DLF, Bharti Airtel, L&T, Cipla, mahindra & Mahindra and ICICI Bank continue to trade in the red, down 1-4.4% each.
Power, FMCG and oil & Gas stocks are witnessing buying in the late noon trades. The BSE Power index has jumped 1.3% or 30 points to 2,362 levels. Lanco Infra, Power Grid, Adani Power, JSW Energy, Siemens, GVK Power, Suzlon Energy and Reliance Power are the top gainers from the power pack.
Oil & Gas index has advanced nearly 1% or 80 points at 8,852 levels. Shares of state-owned oil marketing companies (OMCs) – Indian Oil Corporation, HPCL and BPCL are trading higher in an otherwise weak market on reports these companies will increase fuel prices after regional elections end in the first week of March.
Cairn India and Oil India are alsoamong the gainers from this space.
FMCG, IT, PSU, Bankex and Consumer Durables indices have recovered from the low levels and are trading firm.
At the same time, Realty, Metal, Auto, Healthcare and Capital Goods indices continue to remain under pressure however they have come off the low levels.
The broader markets have also come off the intra-day low levels. The BSE mid-cap index is down 0.2% or 13 points at 6,362 and the small-cap index is down 58 points at 6,911.
The overall breadth is negative as 1,737 stocks are declining while 1,000 stocks are advancing.
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