The BSE benchmark Sensex tumbled by 200 points on selling pressure from operators ahead of the expiry of near-month April, 2011, derivatives contracts on Thursday, coupled with weak Asian cues.
Political worries also weighed on the market as the Central Bureau of Investigation charged Kanimozhi, a Rajya Sabha member and daughter of Tamil Nadu Chief Minister M Karunanidhi, in the 2G spectrum scam.
Index heavyweight Reliance Industries (RIL) fell for the second straight day after reporting lower-than-expected numbers for Quarter 4, ended March, 2011.
The BSE benchmark Sensex resumed higher at 19,596.32 and hovered in a range of 19,600.79 and 19,377.84 before quoting at 19,384.66 at 1015 hours, showing a net loss of 199.65 points, or 1.02 per cent, from its last close.
The NSE 50-share Nifty also fell by 61.55 points, or 1.05 per cent, to 5,812.55 at 1015 hours.
Among the 30-member Sensex pack, 26 stocks declined while the rest advanced. Sterlite Industries, Maruti Suzuki India and HDFC fell by between 1.16 per cent to 1.45 per cent.
Foreign institutional investors (FIIs) sold shares worth Rs 377.59 crore and domestic institutional investors bought shares worth Rs 236.62 crore yesterday as per provisional data.
