Mumbai: A benchmark index of Indian equities closed a volatile trading day Wednesday 231 points lower as reports of a housing scam involving major housing finance institutions and banks led to heavy selling in banking and realty scrips.
Global cues were also sombre a day after the conflict between the two Koreas and unease over the Irish sovereign debt bailout.
The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,735.28, closed at 19,459.85, down 231.99 points or 1.18 per cent from its previous close at 19,691.84.
The Sensex index touched an intra-day high of 19,835.57 and a low of 19,375.92.
At the National Stock Exchange (NSE), the 50-share S&P CNX Nifty index ended at 5,865.75, down 1.16 per cent. The Central Bureau of Investigation (CBI) arrested senior officials from housing finance companies like LIC Housing Finance and some banks over a housing loan scandal.
Broader markets indices also ended lower, with the BSE midcap index closing 1.11 per cent down and the BSE smallcap index 0.56 per cent lower.
Major movers
Banking and realty scrips were among the major losers, while FMCG stocks gained. The market breadth was negative, with 1,253 companies advancing, 1,676 companies declining and 156 remaining unchanged.
Among gainers on the Sensex index at this time were M&M, up 3.23 per cent at Rs784.25; Bharti Airtel, up 0.76 per cent at Rs331.65; Tata Steel, up 0.54 per cent at Rs615.35, and ITC, up 0.41 per cent at Rs173.10.
