Indian markets slid in the final couple of hours of trade after opening higher following expiry jitters to end nearly a percent lower. While the Sensex closed 224.03 points (0.8%) lower at 27,835.91, the Nifty 50 ended 58.10 points lower at 8,592.20.
“Expiry of the August 2016 derivatives contracts added to the volatility in the markets as traders rolled over positions from current month contracts to September 2016 contracts,” BNP Paribas Mutual Fund Fund Manager – Equities Shreyash Devalkar said.
Wipro was the top loser on Nifty 50, ending down 3.15% at Rs 503.30 with volumes of 48.37 lakh shares on NSE. Other major losers included Adani Ports (down 2.89% to Rs 262.30), Idea (down 2.69% to Rs 95.70), Zee (down 2.17% to Rs 510.50) and Tech Mahindra (down 2.1% to Rs 457.25). A total of 935 stocks declined, 636 advanced and 83 remained unchanged on NSE. 15 securities ended at 52-week low on NSE on a day when the index declined nearly 1%. Despite the fall of nearly 1%, many scrips managed to end with gains.
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