The BSE benchmark Sensex on Wednesday tumbled over 200 points in the late morning trade following fresh selling mainly in banking, realty, metal, capital goods and auto sectors, after RBI announced more measures to squeeze liquidity from the banking system to stem rupee’s decline.
The market may remain volatile in the immediate future as traders roll over positions in the futures & options (F&O) segment from the July 2013 series to August 2013 series, traders said.
The 30-share index resumed lower at 20,200.20 and hovered in a range of 20,252.70 and 20,098.64 before quoting at 20,099.02 at 11.00hrs (IST), showing a loss of 203.11 points, or one per cent, from its last close.
The NSE 50-share Nifty also dropped by 84.60 points, or 1.30 per cent, to 5,993.20.
Major losers were ICICI bank (4.15 per cent), Sterlite (3.78 per cent), SBI (3.61 per cent), M&M (2.93 per cent), Maruti (2.89 per cent), HDFC Bank (2.86 per cent), Larsen (2.78 per cent) and Jindal Steel (2.54 per cent).
Asian stocks fell in their early trade after a private survey showed manufacturing weakened further in July in China.
Key benchmark indices in China, Hong Kong, Indonesia, Japan, and Taiwan were down by 0.28 per cent to 1.27 per cent.