After opening with a gain of 107.79 points at 14,432.08, the 30-share index, BSE Sensex went down on account of heavy selling action witnessed in IT, real estate and banking stocks.

BSE Midcap and Smallcap lost 0.73% and 0.41% respectively.

On Thursday (Sep 11), the Sensex marked its closure after losing 338.32 points, whereas the NSE Nifty fell by 109.95 points.

At 11.54 a.m., Sensex declined 237.84 points at 14,086.45 after hitting a high of 14,433.20 and a low of 14,046.42. In the meantime, the broad based Nifty stood at 4,246.75, down 43.55 points, after touching a high of 4,323.90 and a low of 4,229.65.

The total market breadth was sharply negative. Out of the total 2,387 stocks traded at BSE, 942 progressed, 1,343 went down while 102 remained unchanged.

The major gainers in the 30-share index included Maruti Suzuki India, which gained 4.25%, Bharat Heavy Electricals surged 1.58%, Tata Power Company climbed 1.38%, Hindalco Industries zoomed 0.94%, ITC profited 0.55% and ACC jumped 0.49%.

The losers list included Infosys Technologies, which fell 5.32%, Housing Development Finance Corporation (HDFC) declined 3.44%, Satyam Computer Services lost 3.24%, ICICI Bank fell 2.73%, Reliance Energy dropped 2.70% and State Bank of India declined 2.50%.

While commenting on the market, stock market analyst, Vishwas Agarwal said that F&O Nifty 4,282 is major support level.

“If they trade below this level then I am not expecting much of upward move in entire September. Yesterday I have told investors to be cautious as Reliance Industries was trading below Rs 2,100; all Reliance shares were down alongwith the market but leader of fall was Reliance Industries,” Mr. Agarwal added.

“Until Reliance Industries (RIL) will not recover and banking stocks don`t increase I don`t expect much upside. I am cautious after fall of nearly 1,000 points and expect relief recovery but it will be difficult to make money in the same,” he also said.