Mumbai: Indian equity benchmarks extended losses following further fall in European markets. Profit booking was the main reason behind sell-off because both markets rallied quite sharply on Tuesday. The 30-share BSE Sensex fell 139 points to 16,384 and the 50-share NSE Nifty lost 46 points to 4,925 amid choppy trade. Meanwhile, European markets were down 1-1.5 per cent.
Anil Dhirubhai Ambani Group's stocks like Reliance Communications, Reliance Power, Reliance Capital and Reliane Infrastructure were down 3-5 per cent. Jaiprakash Associates fell 5 per cent.
Major largecaps like Bharti Airtel, ICICI Bank and L&T plunged 2-3 per cent; SBI was down over 1 per cent. BHEL, HDFC, HUL and Wipro lost over 0.5 per cent.
SAIL, Sterlite, Tata Steel, Bajaj Auto, Maruti, Hindalco, PNB and Kotak Mahindra Bank plunged 2-3 per cent.
Meanwhile, ITC, Infosys, ONGC and NTPC too slipped from day's high, though these stocks gained 0.5-0.9 per cent. DLF, HCL Tech, Ranbaxy Labs and GAIL moved up 1.5-3 per cent.
About two shares declined for every share gaining. The broader indices too were falling in-line with benchmarks - the BSE Midcap and Smallcap indices fell 0.8 per cent each.
The market continued to trade in a narrow range of 4930-4965 on the downside on the Nifty. About 0.5-1 per cent fall in European markets was also adding some pressure on Indian equities. The 50-share NSE Nifty slipped 33 points to 4,938 and the 30-share BSE Sensex was trading at 16,428, down 95 points.
About 35 stocks out of 50 on the Nifty were trading with red tick. Reliance Industries was playing a key role in Wednesday's volatility.
Heavyweights Bharti Airtel, Larsen & Toubro, SBI and ICICI Bank were down between 1 per cent and 2 per cent.
HDFC, Wipro, BHEL and HUL among others fell 0.7 per cent each. Sterlite Industries, Bajaj Auto, SAIL, Tata Steel, Maruti, Hindalco, Reliance Power and Siemens tumbled more than 2 per cent.
However, DLF and HCL Tech were top gainers on Nifty - jumped nearly 3 per cent. NTPC, Infosys, ONGC and ITC gained 1-1.5 per cent.
About two shares slipped for every share rising. The broader indices too were following the benchmarks - the BSE Midcap and Smallcap indices fell 0.5 per cent each.
Indian equity benchmarks were trading with moderate loss amid volatility. The sell-off in capital goods, auto, metals, ADAG and select banks stocks weighed on the market. However, buying in technology, PSU power and select oil & gas stocks limited the downside.
The 30-share BSE Sensex was trading at 16,456.69, down 67.34 and the 50-share NSE Nifty declined 25 points to 4,946.10.
European markets too slipped in the opening trade. France's CAC, Germany's DAX and Britain's FTSE fell 0.7 per cent each.
On the home turf, Bharti Airtel, ICICI Bank, L&T, SAIL, Sterlite Industries, Bajaj Auto, Tata Steel, Kotak Mahindra Bank, Hindalco, Maruti, Hero Motocorp, Axis Bank and M&M fell 1.5-3 per cent.
Major counters like Reliance Industries, BHEL and SBI were down 0.4-0.9 per cent.
However, Infosys and NTPC gained 1.7 per cent each. Among the others, ONGC, TCS, ITC, Cairn and DLF moved up 0.4-0.7 per cent. HCL Tech was the top gainer on Nifty; the stock rallied 2.7 per cent.
About 1130 shares advanced as against 1449 shares declined on the BSE.
In the midcap space, Aventis Pharma, KGN Industries, Hexaware Tech, Pipavav and SKS Microfinance shot up 3-6 per cent. However, Shree Global, Nava Bharat Ventures, Balrampur Chini, Amtek Auto and Hathway Cable slipped 4-10 per cent.
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