Mumbai, June 11: Equity benchmark indices Sensex and Nifty ended lower on Thursday, as investors remained cautious amid rising tensions between the US and Iran. Unabated foreign fund outflows and a spike in US inflation also led to muted trading in the markets, according to analysts.
Market Performance Overview
In a volatile trade, the 30-share BSE Sensex declined 150.63 points, or 0.20 per cent, to settle at 73,832.55. During the day, the benchmark hit a high of 74,394.34 and a low of 73,518.75, gyrating 875.59 points.
The 50-share NSE Nifty edged lower by 53.35 points, or 0.23 per cent, to end at 23,161.60. Intraday, the benchmark index reached a high of 23,327.45 and a low of 23,072.05.
Sectoral Movers
Among the Sensex firms, Infosys, HCL Tech, Adani Ports, Bajaj Finance, Eternal and Bharat Electronics were the biggest laggards. Mahindra & Mahindra, ICICI Bank, Kotak Mahindra Bank and Sun Pharma were among the winners.
"Indian equities witnessed another highly volatile session today, with benchmark indices staging a strong recovery from opening losses before surrendering gains in the second half of the day," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.
Global Cues And Foreign Flows
Brent crude, the global oil benchmark, traded one per cent lower at USD 92.16 per barrel. Foreign Institutional Investors (FIIs) offloaded Indian equities worth Rs 2,124.98 crore on Wednesday, according to exchange data.
In Asian markets, South Korea's Kospi and Japan's Nikkei 225 ended marginally higher, while Shanghai's SSE Composite index and Hong Kong's Hang Seng settled lower. Markets in Europe were trading higher. US markets ended significantly lower on Wednesday.
"IT stocks lagged amid concerns that stronger US inflation could delay interest rate cuts and keep global financial conditions tight," Vinod Nair, Head of Research, Geojit Investments Limited, said.
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Previous Session Recap
On Wednesday, the Sensex trimmed most of its intraday gains during the fag-end of trading and settled 64.42 points, or 0.09 per cent, higher at 73,983.18. The Nifty, however, dipped 27.15 points, or 0.12 per cent, to end at 23,214.95.
(Disclaimer: Except for the headline, this article has not been edited by FPJ's editorial team and is auto-generated from an agency feed.)
