Mumbai: Indian equity benchmark indices closed slightly lower on Thursday after witnessing sharp swings during the trading session. Investors booked profits in several blue-chip stocks, which pulled the market down from the day’s highs.
The 30-share BSE Sensex fell 135.03 points, or 0.18 percent , to close at 75,183.36. During the session, the index moved sharply between a high of 75,945.79 and a low of 74,996.78, showing high volatility of nearly 950 points.
The NSE Nifty50 slipped 4.30 points, or 0.02 percent , to settle at 23,654.70.
Heavyweight Stocks Drag Market
Major losers on the Sensex included Bajaj Finance, Tech Mahindra, Hindustan Unilever, Infosys, Bajaj Finserv and Bharti Airtel. Selling pressure in these heavyweight companies dragged the benchmark indices lower in the second half of trade.
However, some stocks managed to end higher. InterGlobe Aviation, Trent, Bharat Electronics and Adani Ports were among the key gainers.
Analysts Cite Profit Booking, Global Concerns
Market experts said investors remained cautious despite positive global cues.
“Indian equity markets witnessed another volatile session today, with benchmark indices surrendering their strong opening gains as positive global cues collided with persistent macroeconomic concerns and strong resistance at higher levels,” said Hariprasad K, Research Analyst and Founder of Livelong Wealth.
Foreign Institutional Investors (FIIs) continued to remain net sellers in the market. According to exchange data, FIIs sold equities worth ₹1,597.35 crore on Wednesday.
Global Markets Mixed
Asian markets showed mixed trends on Thursday. South Korea’s Kospi surged more than 8 percent , while Japan’s Nikkei ended higher. However, China’s Shanghai Composite and Hong Kong’s Hang Seng closed lower.
European markets traded in the green, while US markets had ended sharply higher on Wednesday.
Meanwhile, Brent crude oil prices declined 0.71 percent to around $104.3 per barrel, offering some relief to investors concerned about rising energy costs.
