The S&P BSE Sensex and NSE Nifty 50 indices underwent volatility on Wednesday as selling pressure was witnessed in banking, FMCG, metal and financial services stocks. The benchmark changed direction 10 times during the session. The Sensex moved into the 600-point range and the Nifty 50 index touched a high of 10,003.60 and a low of 9,833.80. India VIX, gauge of expected volatility, rose 1.5 percent to 33.47.
The Sensex fell 97 points or 0.29 percent to 33,507.92 and the Nifty 50 index closed 0.33 percent or 33 points down at 9,881.15.
Of the 11 sectors compiled by the National Stock Exchange, six ended with a 0.8 percent decline in the Nifty Financial Services Index. Nifty Bank, FMCG, Metal, Private Bank and PSU Bank index also fell by about 0.5 per cent.
On the other hand, the Nifty Media Index was up 1.7 percent.
Mid- and small-cap stocks Nifty Midcap 100 index closed up 0.1 percent and Nifty Smallcap 100 index closed up 0.5 percent.
Bharti topped the Infratel Nifty, closing 4.5 per cent at Rs 206. Kotak Mahindra Bank, ITC, Power Grid, Mahindra & Mahindra, Shree Cements, Bajaj Finserv, Hindalco, Asian Paints, Vedanta and HDFC also fell between 1.5 -2.3 per cent.
On Flipsy, Maruti Suzuki topped the stock, climbing 4 percent to close at Rs 5,725. Bharti Airtel, Wipro, Britannia Industries, Axis Bank, UPL and IndusInd Bank were also among the beneficiaries.
Overall the market position was positive as 1,438 stocks traded higher while 1,120 closed lower on the BSE.