The stock markets witnessed intense sell-off in mid-afternoon trade as global stocks tanked after Germany's move to ban some naked shorting. The Asian markets lost nearly 1-2% and European markets shed anywhere from 2% to 3%. The Dow Futures was also down close to 1%.
The European debt woes has created negative sentiment among the investors and traders across the globe. The Nifty broke its 200 simple day moving average of 4,982 decisivley and closed below the level for the first time in the entire bull run, which started in March 2009.
The Sensex was down 467.27 points or 2.77% at 16408.49, and the Nifty down 146.55 points or 2.89% at 4919.65. The market breath was also weak. About 712 shares advanced, 2,254 shares declined, and 321 shares remained unchanged
Metal stocks witnessed biggest sell-off in the trade. The BSE Metal Index was down close to 4%. Rate sensitive indexes of realty, banks and auto also lost more than 3%. FMCG, telecom, pharma and oil & gas stocks also shed 2%. All BSE sectoral indices ended in red with minimum loss of 1%.
Heavyweights like Tata Motors, Sterlite Industries, ICICI Bank, Mahindra & Mahindra, Reliance Communications, Idea Cellular and Unitech lost in the range of 5.5-7.5%. Hero Honda, Cipla, ABB and Tata Power ended in the green.
Index heavyweight Reliance ended below Rs 1000 at Rs 998.30 down 2.19% from its previous close of Rs 1,020.70. Cigarette major ITC closed at Rs 259.20 down 3.48% from its previous close of Rs 268.55.
ICICI Bank, Tata Motors, Larsen, Reliance Industries and Tata Steel were most active shares traded on NSE.
Nifty Futures added whopping 20% in open interest today clearly suggesting huge short built-ups in the Nifty. The Nifty Futures ended with 5.45 points premium with respect to Nifty Spot. Nifty 5000, 4900 and 4800 Puts were amongst most active traded puts in the F&O segment. Interestingly, Nifty 4500 Put of June month expiry added 24% in open interest.
The total turnover for the day stood at whopping Rs 156397.77 crore. NSE F&O contributed Rs 136575.09 crore. NSE Cash recorded Rs 15527.26 crore. The remaining turover of Rs 4295.42 crore came in from BSE Cash
Top gainers on the BSE Midcap: 3M India, Berger Paints, South Indian Bank, Parsvnath and Honeywell Automation were up 2-7%.
Top losers on the BSE Midcap: Aban Offshore, Essar Shipping, Welspun Corp, GTL Infra and Guj NRE Coke were down 7-9%.
Top gainers on the BSE Smallcap: Lloyds Metals, Gujarat Natural, Take Solutions, Henkel India and Zandu Realty were up 11-20%.
Top losers on the BSE Smallcap: HBL Power, Shrenuj and Company, Solvay Pharma, Orchid Chemical and Sterling Holiday were down 8-9%.