Sensex declines by 89 pts, Nifty falls nearly 23 pts in choppy trade

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Photo source: PTI

International oil benchmark Brent crude rose 0.30 percent to USD 122 a barrel.

Highlights

  • The Sensex, Nifty closed with losses in highly volatile trades as banking and financial stocks retreated.
  • The 30-share BSE Sensex fell 89.14 points, or 0.15 per cent, to 57,595.68.
  • The broader NSE Nifty declined 22.90 points, or 0.13 per cent, to 17,222.75.

Benchmark stock indices Sensex and Nifty closed with losses in highly volatile trading on Thursday as banking and financial stocks retreated amid weak trends in global equity markets.

The 30-share BSE Sensex fell 89.14 points, or 0.15 per cent, to 57,595.68. During the day, it touched a low of 57,138.51 and a high of 57,827.99.

The broader NSE Nifty declined 22.90 points, or 0.13 per cent, to 17,222.75.

From the 30-share pack, Kotak Mahindra Bank, Titan, HDFC Bank, ICICI Bank, HDFC, Mahindra & Mahindra, Maruti Suzuki India, IndusInd Bank, Hindustan Uniliver Limited, Axis Bank and State Bank of India were the main drag.

Among the beneficiaries were Dr Reddy’s Laboratories, Ultratech Cement, Reliance Industries, Tata Steel, Tech Mahindra, NTPC, ITC, TCS and HCL Technologies Limited.

“The market now lacks direction and is moving up or down every day in response to speculation about crude prices, FPI inflows and what the Fed may do at the upcoming policy meeting,” said VK Vijayakumar, chief investment strategist at Geogit Financial. Services.

In previous trade, the BSE barometer fell 304.48 points, or 0.53 per cent, to 57,684.82. The Nifty ended 69.85 points, or 0.4 percent, lower at 17,245.65.

Equity exchanges declined in Seoul, Hong Kong and Shanghai, while Tokyo was slightly higher. The U.S. stock exchange ended in a negative note in the overnight session.

International oil benchmark Brent crude rose 0.30 percent to 2 122 a barrel.

Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 481.33 crore on Wednesday, according to the stock exchange.

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