Expiry volatility rocks market; Nifty plunges 93 pts

Equities succumbed to another bout of profit-taking across the board on expiry day of derivative contracts with the NSE Nifty tanking 93 points to close below the 8,200-mark.
After trading positively in early part of the session, volatility once again struck bourses as renewed selling interest checked intra-day gain.
Sustained unwinding by FIIs and lack of retail participation ahead of tomorrow's trading holiday further dampened the sentiment, dragging the markets into deep red.
Meanwhile, most Asian and emerging markets ended higher cheered by upbeat US GDP data which showed the world's largest economy grew faster than expected in the last quarter. The Dow Jones Industrial Average finished above the 18,000 level for the first time overnight.

The broader 50-share index plunged by 92.90 points, or 1.12 per cent, to conclude at 8,174.10 after fluctuating widely between 8,286.40 and 8155.25 during the session.
Energy and resources stocks predominantly spreaheaded the sell-off followed by FMCG, Infra, Healthcare, Auto, Metal and Financials.

The key frontline losers included Infosys, HDFC, HDFC Bank, TCS, ITC, ONGC, Reliance, L&T, Tata Motors, Dr Reddys', Lupin, TechM, Sun Pharma, M&M, NTPC, HUL, GAIL, Power Grid, BHEL, Bajaj Auto, Asian Paints, Wipro, SBI and Heromotoco.
However, shares of cement companies were in limelight after Ultra Tech agreed to buy two cement plants from JP Associates alongwith insurance related stocks like Reliance Capital and Max India after the Cabinet approved ordinance on insurance.

Other notable gainers were Zeel, Sesa Sterlite, ACC, Axis Bank, HCL-Tech, ICICI Bank and Kotak Bank.
Turnover in the cash segment was substantially higher at Rs 22,158.64 crore against Rs 13,630.20 crore yesterday due to options expiration. A total of 10,287.04 lakh shares changed hands in 60,16,224 trades. The market capitalisation stood at Rs 94,00,436 crore.