Indian stock markets marked its closure on a negative note on Wednesday led by realty, capital goods, metal, bankex and power stocks.

Moreover, the broader markets also posted declines.  

The Sensex, on Wednesday, opened at 14,039.58, down 130.87 points, on worries about the rate of economic recovery and weak worldwide signals.

The index fell below 14,000 mark on heavy sales action witnessed across board, hitting a low of 13,701.76. It continued to slip downwards further the entire day thus ending on a feeble note.

BSE Midcap and Smallcap index fell 3.66% and 3.73% respectively.

Among the sectoral indices, BSE Realty declined 8.47%, Capital goods clumped 5.05%, Bankex and Metal declined more than 4% each, Power slipped 3.64%, Consumer durables dipped 2.98%.

Finally, the Sensex closed the day after losing 401.30 points at 13,769.15 after hitting a high of 14,039.58 and a low of 13,701.76. The broad-based NSE Nifty fell 123.25 points at 4,078.90 after touching a high of 4,201.85 and a low of 4,061.10.

The top gainers in the 30-share index included ACC gained 3.09%, Maruti Suzuki India surged 2.13%, Hero Honda increased 1.51%, Grasim Industries climbed 1.20%, NTPC zoomed 0.98% and Tata Motors rose 0.46%.

On the other hand, the major losers in the Sensex were Tata Steel (8.93%), Sterlite Industries (India) (8.38%), Reliance Capital (8.29%), DLF (7.68%), Reliance Energy (7.04%), and Larsen & Toubro (5.84%).

While commenting on the market outlook for July 9, 2009, Avinash Gupta, assistant vice president Research Equity, Bonanza Portfolio stated that the stock market is in intermediate downswing and is expected trade with a downward bias.

About market performance of the day July 8, 2009, Mr. Gupta said, “The stock market had to contend with across the board selling. The number of progressions was one sixth of the number of declinations. The segment to get the maximum beating was the real estate sector. Other major losers were capital goods and metals. The sector to stand out was the clearly the cement sector that is likely to have a positive fall out owing to infrastructural spending and no additional tax liability was imposed on the cement.”

Oil marketing companies also defied the down trend today. IOC, HPCL and BPCL gained due to softening of crude oil prices. Select Automobile companies recorded gains. The gainers included Hero Honda, Maruti, Tata Motors and Ashok Leyland,`` he added.