Sensex Dips 105 Points, Nifty Above 17,300 Amid Weak Global Cues; Banks Drag
ICICI Bank (down 2.3 per cent), Axis Bank and Ultratech Cement (2 per cent each), and IndusInd Bank were the top drags. Nestle India, SBI, HDFC Bank, Kotak Bank, and Sun Pharma were the other losers.
New Delhi: The Indian equity benchmarks, Sensex and Nifty which started the session on Thursday amid high volatility, extended fall for the straight second day witnessing a see-saw throughout the day.
Global investors are spooked by weekly F&O expiry and ongoing geopolitical tensions between Russia and Ukraine.
The 30-share BSE Sensex, which started on a fairly positive note clocking modest gains, sank 105 points at 57,892, while the NSE Nifty was at 17,305, down 17 points. Both the indices were fluctuating between gains and losses, eventually settled in the red.
HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today. These were followed by HDFC, L&T, TechM, ITC, and ITC.
On the flipside, ICICI Bank (down 2.3 per cent), Axis Bank and Ultratech Cement (2 per cent each), and IndusInd Bank (1.3 per cent) were the top drags. Nestle India, SBI, HDFC Bank, Kotak Bank, and Sun Pharma were the other laggards.
In the broader markets, the BSE Midcap index dipped 0.22 per cent and the BSE Smallcap index fell 0.67 per cent.
13 out of the 15 sector gauges, compiled by the National Stock Exchange, settled in the red. Nifty Private Bank and Nifty PSU Bank underperformed the index by falling as much as 1.19 per cent and 1.18 per cent, respectively.
Banking stocks declined in trade with the BSE Bankex index closing 1 per cent down.
Meanwhile, the rupee declined by 7 paise to close at 75.11 (provisional) against the US currency on Thursday as geopolitical tensions pushed investors towards safe-haven assets.
Forex traders said sustained foreign fund outflows and elevated crude oil prices too weakened the rupee.
Elsewhere in Asia, markets ended mostly higher in line with positive Wall Street after Federal Reserve policymakers indicated they are leaning toward more decisive action on inflation but set no firm targets.
Global crude oil benchmark Brent Futures fell 0.86 per cent to $93.99 per barrel on Thursday.
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