Markets settle lower in highly volatile trade

Share brokers watching stock prices fall at BSE Sensex and NSE Nifty. Photo used for representational purpose only. File
| Photo Credit: PTI

Equity benchmark indices Sensex and Nifty ended lower in highly volatile trade on Thursday due to selling in banking, metal and energy counters amid a mixed trend in the global markets.

Falling for the second day in a row, the 30-share BSE Sensex declined 193.70 points or 0.31% to settle at 62,428.54 even after a positive beginning. During the day, it fell 263.1 points or 0.42% to 62,359.14.

The NSE Nifty fell 46.65 points or 0.25% to finish at 18,487.75.

From the Sensex pack, Bharti Airtel fell 3.42% and Kotak Mahindra Bank declined 3.31%. ICICI Bank, ITC, HDFC Bank, UltraTech Cement, HCL Technologies and Maruti were the other major laggards.

Tata Motors, Hindustan Unilever, Asian Paints, Sun Pharma, Nestle, Tata Consultancy Services, Wipro, Bajaj Finance, Axis Bank and IndusInd Bank were among the gainers.

In Asian markets, Seoul and Hong Kong ended lower, while Tokyo and Shanghai settled in the green.

Equity markets in Europe were trading in positive territory. The U.S. markets ended lower on Wednesday.

Firing on all cylinders, India continues to maintain its streak of world-beating economic growth after GDP for the March quarter beat all expectations with a 6.1% expansion that helped push the annual growth rate to 7.2%.

Global oil benchmark Brent crude dipped 0.17% to $72.48 a barrel.

Foreign Institutional Investors (FIIs) continued to remain, net buyers, as they bought equities worth ₹3,405.90 crore on Wednesday, according to exchange data.

In the U.S., veering away from a default crisis, the House approved a debt ceiling and budget cuts package late on Wednesday, as President Joe Biden and Speaker Kevin McCarthy assembled a bipartisan coalition of centrist Democrats and Republicans against fierce conservative blowback and progressive dissent.