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Our Bureau

Mumbai, Nov. 6 The run-up to the festival season and weak global cues continued to keep domestic equity markets volatile.

Tuesday saw the Sensex open with a positive gap of 100 points, only to drop more than 500 points intra-day.

It ended the day at 19,400.67, losing 190.11 points from Monday.

The pre-Diwali profit-booking continued, said analysts.

“Profit-booking has been noticeable ever since the Sensex breached the 20,000-mark some days ago. The big players have opted out and there seems to be a roll-over with investors looking at safer options like mid and small-cap stocks,” said the Head of Research at a brokerage.

Among the larger losers of the day were Reliance Petroleum Ltd, which fell 17.64 per cent. Reliance Natural Resources Ltd dropped 9.02 per cent to Rs 162.45, although it also recorded its highest-ever traded price of Rs 203 intra-day.

“There was major selling happening in several Reliance shares today, and that contributed to bringing the markets down,” said the Managing Director of a broking firm.

This is because the overall sentiment in the markets is very weak, he added.

The blue-chip losers included L&T, Tata Motors, ICICI Bank and Tata Steel.

All the major indices were in red today, with BSE Bankex and Capital Goods falling 2.01 per cent and 1.77 per cent, respectively, while BSE- Realty and BSE- PSU gained 0.51 per cent and 0.63 per cent, respectively.

“During market hours, the Hang Seng was down due to some new restrictions in China and the Dow too, was in the red yesterday. Our markets were reacting to these cues,” said Mr Sanjay Someshwar, Sub-broker, Ventura Securities.

The S&P CNX Nifty was 1.04 per cent, to end the day at 5786.50. The market breadth was negative with 1606 declines and 1108 advances.

FIIs were net buyers for Rs 7.62 crore, while domestic institutions were net buyers for Rs 206.56 crore, provisional data showed.

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