Volumes Buzzers: SBI, Tata Motors, JP Associates top the chart; metals beaten black & blue

Tracking weakness in global markets, Indian equity markets witnessed a kneejerk reaction that pushed the benchmark indices below crucial support levels.

Both equity benchmarks saw the biggest single-day fall since February 1, 2020, the Budget day. The S&P BSE Sensex sank way below its crucial psychological support of 41,000, down 806.89 points to 40,363.23 while the Nifty dropped below 12,000 levels, down 251.50 points to 11,829.40.

Sectorally, the selling was seen across the board with Metal falling the most, down 5.4 percent. Pharma and Auto declined more than 3 percent.

"The momentum is expected to fizzle out in the coming week and higher side profit-bookings are likely to emerge. There will be more buyers who are waiting to enter at around 11,900 levels," Umesh Mehta, Head of Research, Samco Securities, told Moneycontrol.

The top metal losers included JSW Steel which tanked over 8 percent followed by Tata Steel which fell 6 percent. Tata Motors, Maruti Suzuki, Hindalco Industries and ONGC were the other losers.

The stock which moved the most with respect to volumes included State Bank of India which fell over a percent. It traded with volumes of 1,581,125 shares, compared to its five day average of 1,450,471 shares, an increase of 9.01 percent.

YES Bank share price was also one of the most active stocks with respect to volumes. It traded with volumes of 7,767,888 shares, compared to its five day average of 8,500,481 shares, a decrease of 8.62 percent.

Tata Motors share price fell almost 5 percent on February 24 ending the session at Rs 150.60, down Rs 7.85, or 4.95 percent. It traded with volumes of 1,867,741 shares, compared to its five day average of 2,190,347 shares, a decrease of 14.73 percent.

Share price of Vodafone Idea tanked close to 12 percent and traded with volumes of 103,360,318 shares, compared to its five day average of 145,341,871 shares, a decrease of 28.88 percent. Jaiprakash Associates share price ended at Rs 2.27, up Rs 0.14, or 6.57 percent. It traded with volumes of 15,267,266 shares, compared to its five day average of 2,178,199 shares, an increase of 600.91 percent.

Indiabulls Housing Finance share price closed at Rs 330.80, down Rs 7.50, or 2.22 percent. It traded with volumes of 2,103,289 shares, compared to its five day average of 1,595,310 shares, an increase of 31.84 percent.

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