Markets turn volatile in the late noon deal

The markets have turned volatile in the late noon deals. The Sensex was at 15,812, down 52 points and the Nifty was down17 points at 4,755. Earlier in the day, the Sensex opened in the green and touched a high of 16,044. But in noon deals, the markets slipped into the red owing to weakness in the banking and oil & gas space. The Sensex traded in a range of 280 points during the day thus far.

Meanwhile, most of the Asian markets ended the day in the red. Taiwan ended at 6,989, down 59 points, Nikkei lost 73 points to 8,382 and the Shanghai Composite closed lower by 6 points at 2,359.

Back home, J P Associates continued to lead the gainers chart, up 5% to Rs 72. DLF advanced 2.5% to Rs 206. ITC, Sun Pharma, Coal India, Mahindra & Mahindra, L&T, HDFC, Tata Steel and Sterlite Industries were also among the gainers.

On the other hand, the banking stocks were among the worst hit. ICICI Bank was the top loser among the Sensex stocks. The stock slipped 4% to Rs 769. State Bank of India lost 3.3% to Rs 1,727 and HDFC Bank was down 1.5% to Rs 443. Hindalco, HUL, Wipro, Jindal Steel, BHEL, Marutis Suzuki and Bharti Airtel were also trading in the red.

On the sectoral front, buying was visible in the FMCG stocks. The BSE FMCG index advanced 44 points to 3,844. Realty index also held on to the gains, up nearly 1% to 1,684. Helathcare, Capital Goods, Auto, Metal and IT indices were also trading higher.

At the same time, Bankex extended its loss, the index slipped 2.6% or 266 points to 9,952. Oil & Gas index was down 0.7% to 8,223. PSU, Consumer Durables, Teck and Metal indices were also trading in the red.

Among the FMCG stocks, ITC was the top gainer. It was followed by Colgate Palmolive, GCPL, Marico, United Spirits and Nestle India.

The broader markets traded in the red. The BSE mid-cap index was down 29 points to 5,907 and the small-cap index lost 38 points to 6,667.