The NSE Nifty closed at 4,839.60 levels with a fall of 1.01% signifying a fall of 49.3 points. Meanwhile BSE Sensex closed at 16146.33 levels with a fall of 138.65 points, registering a fall of 0.85%.
The Asian peers Nikkie, Topix and Hang Seng were all trading up by 1.54%, 1.29% and 1.47% respectively. Meanwhile the European counterparts were also trading on the high side with FTSE100 at 0.10% and Dax was up by 0.79%.
On the F&O front, the August series of Nifty was the worst since October 2008. The main culprit was Bank Nifty which collapsed 16% during the period. This was the prime cause for the downfall of series.
Among the Sectoral indices only BSE Realty, BSE Health care and BSE FMCG remained positive at the end of the day. The worst performer was BSE IT as it lost 2.07% with a fall of 99.95 points.
Among stocks HDFC Bank, Infosys, JSPL, HDFC, Axis Bank, SAIL, Hero Motocorp, Tata Steel and Jaiprakash Associates fell between 2.5-5%.
Meanwhile Reliance Industries, SBI, TCS and ICICI Bank tumbled 1-1.5%.
However, cement, telecom, PSU oil & gas, FMCG and select realty stocks didn't follow the trend. DLF and Ambuja Cements were top gainers; these stocks gained 3% each.
ONGC, Bharti Airtel, Tata Motors, Sun Pharma, ACC and Reliance Communications moved up 1-1.5%.
After catching up to the opening levels the NSE Nifty and the BSE Sensex fell again but neither breached the mornign low. The BSE Sensex was trading at 16,211.96 at a loss of 73.02 points representing a fall of 0.45% and the NSE Nifty fell 0.59% at 4,859.85 level representing a loss of 29 points.
Metal, IT and banking stocks slipped while oil & gas and auto stocks have gained during the same period.
Infosys, L&T, HDFC and HDFC Bank were negative contributors to the Sensex while Reliance, ITC, ICICI Bank, Bharti Airtel and ONGC were the positive contributors.
Among the sectoral indices on the BSE Healthcare was the best performer and Metal was the worst performer. Auto, FMCG, Oil & Gas were also in positive along with Health care.
On the NSE, the sectoral indices representing Energy, FMCG, Pharma and Realty were in the green rest were in red.
Most active shares on NSE were SBI, ICICI Bank, Tata Steel, Axis Bank and L&T.
The BSE Sensex after touching its intra-day low so far at 16,137.55 approx 11.30 a.m. Meanwhile the NSE Nifty also has started on its upward movemntn after touching the intra-day low of 4,840 at (11.27 a.m.).
The 30-share BSE Sensex was trading at 16,248, down 36 points and the 50-share NSE Nifty fell 17 points to 4,871 led by fall in 38 stocks.
Among the sectoral indices on the BSE, IT, Metal and Teck were the worst hit reporting fall of 1.68%, 1.46% and 1.40% respectively. Meanwhile the best performing sector on the BSE was Auto with gains of 0.39%, also oil and gas went up by 0.35%.
Leading largecaps like TCS, Infosys, HDFC, L&T, Bharti, SBI, NTPC, Tata Steel, ICICI Bank and HDFC Bank dropped 1-2.5%. Reliance Industries, BHEL and Wipro declined over 0.5%.
However, ONGC, Sun Pharma and Tata Motors bucked the trend; these stocks lost 2-2.5%.
Even some Asian markets saw some profit booking at higher levels. Kospi, which rose 1.5%, was trading 0.5% higher. Even Nikkei slipped from day's high. Taiwan extended loss; it lost 0.9%.
The major indices representing the Indian capital market had opened positive after 45 minutes of trade they hit the red zone as volatility continued on speculative drivers. The 30-share BSE Sensex was trading at 16,250, falling 13 points. The 50-share NSE Nifty fell 13 points to 4.875.
The F&O series expires today and experts feel that it may happen in the range of 4800-4900.
Among largecaps Tata Motors, IDFC, Reliance Communications, HUL, DLF, Maruti, Tata Steel, Dr Reddy's Labs and Sun Pharma were witnessing some buying interest in early trade.
However, HDFC, HDFC Bank, ITC, L&T, Reliance Industries and Hero Motocorp (goes ex-dividend today at Rs 35 a share) were down.
The CNX Midcap rose 22 points to 7,288. About 534 shares advanced as against 320 shares declined on National Stock Exchange.