The Sensex was down 746 points and the Nifty was down 218 points. The stock market has been volatile throughout the day. The market witnessed a sharp correction after recording record gains yesterday. Today, the Nifty lost 1.5 per cent. This is the largest daily loss in a month.
Sales pressure in global markets was also reflected in the Indian market. The Nifty traded lower at 14,500 points in the morning trade. Similarly, the Nifty declined by 260 points. Nifty fell to 14,351 and closed at 14,371.
Nifty Bank Index fell to 31,200. All sectors except automobile declined. Metal and bank stocks were the biggest losers. Nifty metal and bank indices fell more than three per cent.
Most stocks in the Nifty lost ground. Of the 50 stocks in the Nifty, 41 lost. Bajaj Auto was the biggest gainer in the Nifty. Shares of Bajaj Auto rose 11.23 per cent.