The S&P BSE-benchmark Sensex tumbled 115 points in the late morning trade on profit-booking in view of the expiry of March futures and options contract on Thursday amid weakening trend in global markets.
Realty, Auto, Oil&Gas and Consumer Durable sectors were the major losers.
Volatility may remain high on the bourses as traders roll over positions in the futures & options (F&O) segment from the near March 2013 series to April 2013 series. The March 2013 F&O contracts expire today.
The S&P BSE-benchmark Sensex resumed slightly lower at 18,702.46 and fell immediately to 18,581.78 before quoting at 18,589.04 at 1030hrs, showing a net loss of 115.49 points or 0.62 pct from its Tuesday’s close.
The NSE 50-share Nifty also moved down by 32.95 points or 0.58 pct to 5,608.65 at 1030hrs.
Major losers were Hero Motocorp (2.89 pct), Tata Motors (2.51 pct), Bharti Airtel (2.41 pct), Reliance Ind (1.93 pct), HDFC (1.87 pct), M&M (1.82 pct), Bajaj Auto ((1.41 pct), Tata Steel (1.36 pct) and Jindal Steel (1.33 pct).
Asian stocks fell in the early trade on concern Europe’s debt crisis is deepening and after pending U.S. home sales fell, damping earnings prospects for Asian exporters. Key benchmark indices in China, Hong Kong, Japan, Singapore, Taiwan and South Korea fell by 0.11 pct to 2.64 pct.
