Mumbai, Mar 24: Benchmark stock indices Sensex and Nifty closed with losses in highly volatile trade on Thursday as banking and financial stocks retreated amid a weak trend in global equity markets.
The 30-share BSE Sensex declined 89.14 points or 0.15 per cent to settle at 57,595.68. During the day, it touched a low of 57,138.51 and a high of 57,827.99.
The broader NSE Nifty dipped 22.90 points or 0.13 per cent to settle at 17,222.75.
From the 30-share pack, Kotak Mahindra Bank, Titan, HDFC Bank, ICICI Bank, HDFC, Mahindra & Mahindra, Maruti Suzuki India, IndusInd Bank, Hindustan Unilever Limited, Axis Bank and State Bank of India were the major drags.
In contrast, Dr Reddy’s Laboratories, UltraTech Cement, Reliance Industries, Tata Steel, Tech Mahindra, NTPC, ITC, TCS and HCL Technologies Limited were among the gainers.
“The market now lacks direction and is moving up or down on a daily basis responding to news regarding crude price, FPI flows and speculation on what the Fed might do in the coming policy meets,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
In the previous trade, the BSE barometer declined 304.48 points or 0.53 per cent to settle at 57,684.82. The Nifty dipped 69.85 points or 0.4 per cent to finish at 17,245.65.
Equity exchanges in Seoul, Hong Kong and Shanghai ended lower, while Tokyo was marginally higher. Stock exchanges in the US ended on a negative note in the overnight session.
Meanwhile, international oil benchmark Brent crude surged 0.30 per cent to USD 122 per barrel.
Foreign institutional investors (FIIs) were net buyers as they bought shares worth Rs 481.33 crore on Wednesday, according to stock exchange data. (AGENCIES)
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BIZ-RUPEE-CLOSE
Rupee rises 4 paise to end at 76.35 against US dollar
Mumbai, Mar 24:
The rupee traded in a narrow range and settled 4 paise higher at 76.35 (provisional) against the US dollar on Thursday, despite a muted trend in domestic equities.
At the interbank forex market, the local unit opened at 76.37 against the greenback and witnessed an intra-day high of 76.24 and a low of 76.41.
The rupee settled at 76.35, registering a rise of 4 paise over its previous close.
In the previous session, the rupee had settled at 76.39 against the US dollar.
Meanwhile, the dollar index, which measures the greenback’s strength against a basket of six currencies, rose 0.18 per cent to 98.79.
Brent crude futures, the global oil benchmark, slipped 0.12 per cent to USD 121.45 per barrel.
On the domestic equity market front, the BSE Sensex ended 89.14 points or 0.15 per cent lower at 57,595.68, while the broader NSE Nifty fell 22.90 points or 0.13 per cent to 17,222.75.
Foreign institutional investors remained net buyers in the capital market on Wednesday as they purchased shares worth Rs 481.33 crore, according to stock exchange data. (AGENCIES)
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