Mumbai, Dec 24 (IANS): With December derivative contracts expiring Wednesday, a benchmark index of the Indian equities markets witnessed volatility and ended nearly 300 points down.

The fall in the market came despite the government giving approval to insurance and coal bills through ordinance route.

"On the back of selling in the heavy weight stocks, the markets slipped into the negative territory. Barring the realty sector which closed up around 1.14 percent, all other sectors ended down," said Alex Mathews, head research, Geojit BNP Paribas Financial Services.

Heavy selling pressure was seen in healthcare, information technology (IT), oil and gas, automobile and capital goods sectors. However, realty sector made gains during the day's trade.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,530.26 points, closed at 27,208.61 points, down 297.85 points or 1.08 percent from the previous day's close at 27,506.46 points.

The Sensex has touched a high of 27,571.25 points and a low of 27,146.52 points in the intra-trade.

The S&P healthcare index dropped by 146.60 points, IT index went down by 144.77 points, oil and gas index slipped by 136.50 points, automobile index was lower by 123.14 points and capital goods index fell 115.42 points.

However, realty index inched up by 17.12 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) closed in the red. It was down 92.90 points or 1.12 percent down at 8,174.10 points.

The major Sensex gainers were: Sesa Sterlite, up 0.59 percent at Rs.205.35; Tata Steel, up 0.06 percent at Rs.395.40 and ICICI Bank, up 0.03 percent at Rs.353.15.

The major Sensex losers were: BHEL, down 2.62 percent at Rs.254.95, NTPC, down 2.35 percent at RS.139.45; Gail, down 2.22 points at Rs.437.70; ONGC, down 2.16 percent at RS.344.50; and HDFC, down 2.07 percent at Rs.1,101.10.