Sensex slipped 251 points to 9,706.5 points on Wednesday after poor performance of the Asian markets lead by Nikkei, Kospi, Hangseng and Taiwan straits.
Updated at 4.55 pm
MUMBAI: Concerns over an imminent hike in US interest rates and sluggish global trends continued to dog the stock markets on Wednesday and dragged down the benchmark Sensex by another 201 points to 9,756.76.
Reports that the three-year long world-wide bull run might be over, coupled with continuing pullout by FIIs and heavy selling by mutual funds compounded the market woes.
The Bombay Stock Exchange (BSE) 30-share Sensex swung more than 442.60 points before ending the day at 9,756.76, a fall of 200.56 points or 2.01 per cent.
The National Stock Exchange's (NSE) S&P CNX Nifty also fell sharply by 76.85 points or 2.62 per cent to 2,860.45 from previous close of 2,937.30.
Mutual funds reportedly were under heavy redemption pressure and have been consistent sellers since June 2, making a cumulative sales of 526.85 crore in two days.
As per the provisional numbers, Foreign Institutional Investors (FIIs) too were sellers in the Cash segment on Tuesday.
Key world indices including the Dow Jones Industrial Average, Nasdaq Composite Index as well as Asian markets were substantially down.
The sell-off was across-the-board affecting all sectors. However, Metal, Capital Goods, PSU and Auto counters were hit hard. The small-cap and the Mid-cap shares also were at the receiving end during the trading.
Meanwhile, leading equity research firm Morgan Stanley has warned in its latest report that the prolonged global bull charge might be over, as the liquidity boom and asset inflation are nearing an end.
The Sensex had bounced back after touching the intra-day low of 9,609.21, raising hopes that the 9,600 major support level might provide some respite to sinking market.
The volume of business, however, improved further to Rs 3,539.45 crore from Rs 3,010.42 crore yesterday. RIL clocked the highest turnover of Rs 360.36 crore followed by Atlas Copc (Rs 265.50 crore), Tata Steel (Rs 117.75 crore), REL Capital (Rs 113.94 crore) and L&T (Rs 111.74 crore).
The broad-based BSE-100 Index tumbled by another 151.68 points to 4,981.39 from previous close of 5,133.27.
The BSE-200 index and the Dollex-200 were quoted sharply down at 1,183.29 and 429.11 at close compared to last close of 1,223.82 and 444.24 respectively. The BSE-500 Index dropped by 145.02 points to 3,776.52 from its previous close of 3,921.54 and the Dollex-30 finished lower at 1,744.78 from 1,782.39.
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