After two days of gains, the market once again swarmed over by the global weakness witnessing massive selling, but the benchmark managed to retain most of its intra-day losses, losing 30.50 points to once again slipped below the key 7,800-level at the National Stock Exchange (NSE).
The overnight fall in US market on Fed rate hike concerns, Weak Asian market after subdued macro data from Chinese as well as Japanese economic data reignited the concern over global growth, also data of continued FII selling and caution ahead of release of key macro data's of IIP and CPI numbers led the domestic stock momentum.
However, fag-end low level buying helped the shares garner some gains.
The Indices opened on a negative bearings with down gap to trade lower to quote 7,678.50 during intraday, later moved up on bouts of buying amid consolidation to touch briefly green before ending in red.
Elsewhere, European stocks trading lower on renewed worries over global economic health.
The 50-share NSE index opened down-gap 7,729.05 and hovered between 7,819.85 and 7,678.50 before ending at 7,788.10, showing a loss of 30.50 points, or 0.39 per cent.
Index-wise, PSU Banks lost 1.71 per cent, followed by IT (0.94 per cent), Metal (0.81 per cent), Energy (0.65 per cent), broader midcap and smallcap also witnessed selling.
While buying in Auto and Infra cushioned the larger fall.
Stock-wise, major losers were NMDC (2.93 per cent), HCL Tech (2.89 per cent), Hindalco (2.67 per cent), PoweGrid (2.10 per cent)and HDFC (2.01 per cent).
While notable gainers were Tata Power (2.96 per cent), Tata Motor (2.67 per cent), BPCL (2.37 per cent), BHEL (2.02 per cent), ZEEL (1.83 per cent).
Turnover in the cash segment slumped to Rs 15,371.36 crore as compared to Rs 17,184.85 crore yesterday.
A total of 7,114.71 lakh shares changed hands in 7,210,893 trades and the total market capitalisation of NSE stood at Rs 9,284,200 crore.
