However, the Nifty index of National Stock Exchange (NSE) recovered slightly by 4.25 and closed firm at 3606.60 points from its last finish. Marketmen said heavyweight stocks ended slightly mixed amid extreme choppiness. The Nifty managed to close above 3600, while the Sensex at one stage clawed back above the 12000 mark but in the end failed to do so. Barring BHEL, Capital Goods, technology, banking, realty, FMCG, pharma and metal stocks lost ground while oil refinery and few power stocks gained.
Benchmark indices bounced back on a strong note on the back of the 50 bps CRR cut by RBI, after sharp cut seen yesterday but that did not sustain for long and immediately after half an hour of trade, indices turned extremely volatile.
On the global front, Asian markets had started on a weaker note but Indian bourses managed to recover from day's low on speculation of interest rate cut. Shanghai fell 0.73 pc, Nikkei eased 3.03 pc and Jakarta dropped 1.76 pc. However, Straits Times gained 0.43 pc, Kospi 0.54 pc and Taiwan Weighted rose by 0.34. European markets were trading higher and also witnessing volatility. FTSE was up 42 points, CAC 64 points and DAX rose by 72 points.
The Sensex swung 679.58 points in intraday trade, and hit a high and low of 12,181.43 and 11,501.85, respectively. It closed with a loss of 106.46 points or 0.90 per cent at 11,695.24. The Nifty touched an intraday high of 3732.65 and low of 3537 and swung 195.65 points.
Turnover was bit higher than yesterday's trade and stood at Rs 77,297.33 crore. This includes Rs 12,797.73 crore from NSE Cash segment, Rs 59,767.70 crore from NSE F &O and balance Rs 4,731.90 crore from BSE Cash segment. About 933 shares advanced, while 2023 shares declined and about 226 remained unchanged. BSE clocked a turnover of Rs 4,728 crore today as compared to a turnover of Rs 3,992.08 crore on Monday, Oct 6.