Markets record highest turnover ever

Markets fell taking its cues from weak Asian markets led by China, and later followed European cues even as volumes shot up.

Turnover was the highest ever, as derivative activity picked up on expiry. Total turnover was Rs1.59 lakh crore. The highest before was on 1.57 lakh, 19th May 2009. In the cash market, volumes were at Rs22137.21 crore.

Volatility remained high due to expiry, which takes place on the last Thursday of every week. The market swung close to 400 points between its high of 17,202.51 and low of 16,808.87 and closed close to its bottom.

The Sensex was down 344.02 points to close with a 2% downside at 16,854.93. Bankex, Oil and gas and Consumer Durables were the top losers of the day. They fell 2.64%, 2.30% and 2.24% respectively.

The midcap and the small cap indices were relative better performers, falling 1.45% and 0.98% respectively. Asian markets were in the red. Hang Seng was down 1.78%, while Chinese indices were down over 3.50%.  The Nikkei and Kospi were relatively more resilient, falling 0.62% and 0.77% respectively.

The Nifty closed at 5005.55. There were 43 advances and six declines among the stocks that make up the index. Idea Cellular was the only stock to remain unchanged.

Ranbaxy was the top gainer of the day, rising 1.90% to close at Rs430.95. Sun Pharma gained 1.61%. Tata Power, Hero Honda and HUL were the other gainers of the day.

Reliance lost 4.59% to close at Rs1060.00, after its bonus issue came into effect today. ICICI Bank was down 4.31%, Reliance Capital, Tata Steel and Maruti were the other companies which ended with declines.