The Sensex ended flat with a negative bias, amid a volatile trading session on Wednesday, with index heavyweight Reliance Industries leading the decline.
The Bombay Stock Exchange’s 30-share Sensex provisionally closed at 17,148 down 25 points. The National Stock Exchange’s 50-share S&P CNX Nifty provisionally closed unchanged at 5,222.
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(Updated at 14:39 hrs)
Markets have extended losses in the late noon deals. The Sensex is down 131 points at 17,042 and the Nifty is trading below the crucial psychological levels of 5,200 down 25 points at 5,197 levels.
Meanwhile, the European markets have opened on a flat note. The CAC is up 4 points at 3,366, DAX is up 2 points at 6,634 and the FTSE is trading marginally lower at 5,765 levels.
Asian shares fell for a third day in a row on Wednesday as investors grew more risk averse, with renewed uncertainty over Greece's bailout and mounting worries about slowing global economies overshadowing support from ample liquidity. Japan's Nikkei slipped 62 points to close 9,576 levels. Hang Seng shed 178 points to 20,627 levels. Taiwan and Shanghai also ended marginally lower.
Back home, Sterlite Industries is the top Sensex loser, down 5% to Rs 108. BHEL is also trading lower by 4% at Rs 265. Maruri Suzuki, Reliance Industries, Jindal Steel, NTPC, Tata Steel, Coal India, Jindalco, SBI, Larsen & Toubro and Bharti Airtel are also among the laggards, down 2-3% each.
On the other hand, Wipro, Hindustan Unilever, Bajaj Auto, Hero MotoCorp, Infosys and Tata Motors are among the notable gainers.
Metal, oil & gas and power stocks are amongst the worst hit in trades. The BSE Metal index is the top sectoral loser, down 2.4% or 263 points at 10,891. Hindustan Zinc, Sesa Goa, JSW Steel, Coal India, Tata Steel, NMDC and Bhushan Steel are among the top losers from this space.
The Oil & Gas index has shed 2% or 175 points at 8,160 levels. Power, PSU, Capital Goods, Realty, Consumer Durables, Bankex and Auto indices are also 0.2-1.6% each.
Shares of information technology (IT) companies are in focus, in an otherwise weak market today, after the rupee hit a seven-week low at 50.64/65 to the dollar in early noon deals. In last one week, the rupee has depreciated by 3.3% from 49.02 on February 29. The BSE IT index is up 0.6% at 6,123 levels.
Among the individual stocks, L&FS Transportation Networks Ltd (ITNL) has moved higher by 3% at Rs 193 after the company said it has emerged as the lowest bidder for the National Highways Authority of India (NHAI) Rs 471 crore highway projects.
Broader markets are also facing the selling pressure. The BSE mid-cap index is down 40 points at 6,161 and the small-cap index is down 63 points at 6,636.
The overall breadth is negative as 1,796 stocks are declining while 899 are advancing.
