Stock Market Today: Sensex Sheds 360 Points; Nifty Around 21,350. Tech Mahindra Sinks 6 Per Cent

Stock update: On the 30-share Sensex platform, TechM was the prime loser, down 6.12 per cent, followed by Airtel, ITC, Wipro, Asian Paints, HCLTech emerged losers

The two key equity benchmarks, Sensex and Nifty, on Thursday recouped some of their losses and closed in the red amid profit booking in large and mid-cap stocks and monthly F&O expiry. The S&P BSE Sensex lost 360 points to close at 70,701. On the other hand, the NSE Nifty50 settled at 21,353, down 101 points. The two indices hit intra-day lows of 70,319 and 21,247, respectively.

On the 30-share Sensex platform, TechM was the prime loser, down 6.12 per cent, followed by Airtel, ITC, Wipro, Asian Paints, HCLTech emerged losers. On the flip side, NTPC, ICICI Bank, IndusInd Bank, Reliance, JSW Steel, Bajaj twins were among gainers.

In the broader markets, the BSE Midcap index reversed gains and ended 0.36 per cent lower, while Smallcap index logged gains of 0.54 per cent.

Among sectors, power gained 1 per cent, while Bank, FMCG, Healthcare, IT down 1 per cent each.

In the previous session on Wednesday, the S&P BSE Sensex jumped 690 points at 71,060, while the NSE Nifty50 closed at 21,454, up 215 points

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled in the positive territory. European markets were trading mostly lower. The US markets ended on a mixed note on Wednesday.

Foreign institutional investors (FIIs) offloaded equities worth Rs 6,934.93 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 1.02 per cent to $80.96 a barrel.

Meanwhile, the rupee rose 1 paisa in a range-bound trade to close at 83.11 (provisional) against the US dollar on Thursday, as the support from weak American currency overseas was negated by rising crude oil prices. Forex traders said the rupee is trading in a narrow range as muted domestic equities and sustained foreign fund outflows dented investor sentiments.

At the interbank foreign exchange market, the local unit opened at 83.13 against the greenback. The unit oscillated between an intraday low of 83.14 and a high of 83.08 and finally settled at 83.11 (provisional) against the dollar, 1 paisa higher from its previous close. On Wednesday, the rupee had settled at 83.12 against the US dollar.