Markets correct marginally; IOCL top Nifty loser

Indian benchmark indices NSE Nifty and BSE Sensex corrected marginally on Thursday, with Nifty closing at 9578, down by 40 points, while Sensex closing lower by 80 points at 31075. BSE Mid-cap index closed down 0.12% at 14781, whereas, BSE Small-cap index closed with a gain of 0.37% at 15645. India VIX also closed 1.2% higher at 11.3. 
 
The oil companies' stocks witnessed a slump in intra-day trade, as Indian Oil Corporation became the top Nifty loser, even as HPCL lost significantly on the bourses. However, the aviation stocks gained during the day as crude oil prices slumped to 7-month low on Wednesday. Global Vectra Helicorp Ltd was the top gainer among the aviation stocks.  
 
The BSE Realty index became the top gaining index, with Indiabulls Real Estate driving the index with over 6% gains. Among other gainers, the shipping stocks traded in the green all through the day. Dredging Corporation closed up by 12.5%, whereas Shipping corporation was up by over 7%.
 
Aurobindo Pharma, Wipro, Cipla, Dr. Reddy’s Laboratories and Reliance Industries were the top gainers in Nifty, while IOC, BPCL, TCS, Bank of Baroda, Hindalco, Bharti Infratel, L&T and ONGC became top Nifty losers.
 
As for the Asian markets, Shanghai was up by 0.06% at 3132.49, Japan's Nikkei was down by 0.26% and Hong Kong's Hang Seng declined by 1.20%. The European markets were trading in the negative terrain, with FTSE 100, EURO STOXX 50 and CAC 40 down by over 1%.