Sensex and Nifty end lower in the sawtooth trade; Bank stocks play spoilsport

Benchmark stock indices Sensex and Nifty ended lower for a second day on Thursday after a volatile trade triggered by a sell-off in bank stocks.

After swinging more than 700 points between gains and losses during the day, the 30-stock BSE Sensex finally ended 104.67 points or 0.18% lower at 57,892 points.

The NSE Nifty fell 17.60 points or 0.10% to settle the day at 17,304.60 marking its second straight losing streak.

The withdrawal of Sensex was mainly organized by massive sales of bank shares, led by ICICI Bank, Axis Bank and IndusInd Bank. Among Sensex constituents, 19 stocks suffered losses.

Contrary to the general trend, index heavyweights HDFC and RIL rose by 1.71%.

Elsewhere in Asia, markets ended mostly higher, in line with Wall Street, after Federal Reserve policymakers signaled they were leaning toward more decisive action on inflation, but were not fixing no firm goals.

Global crude oil benchmark Brent Futures fell 0.86% to $93.99 a barrel on Thursday.

Foreign institutional investors (FIIs) were net sellers in the capital market on Wednesday as they sold shares worth Rs 1,890.96 crore, according to stock market data.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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