Markets settle modestly lower in volatile trade

The BSE Sensex pared all gains to settle 48.99 points or 0.08% lower.

September 06, 2022 06:01 pm | Updated 06:01 pm IST - Mumbai

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File | Photo Credit: Paul Noronha

The Sensex and Nifty closed modestly lower on Tuesday after investors offloaded FMCG, IT and banking stocks in the last hour of trade amid mixed global cues.

The selling pressure emerged towards the fag-end of the session.

After rising over 320 points in intra-day trade, the 30-share BSE Sensex pared all gains to settle 48.99 points or 0.08% lower at 59,196.99. During the day, it hit a high of 59,566.67 and a low of 58,974.26.

The NSE Nifty also slipped 10.20 points or 0.06% to 17,655.60.

From the Sensex pack, Bajaj Finserv, Kotak Mahindra Bank, Hindustan Unilever, Mahindra & Mahindra, Bajaj Finance and Nestle were among the major laggards.

On the other hand, Bharti Airtel, NTPC, Tata Steel, Reliance Industries and Power Grid were among the major gainers.

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

Equities in Europe were trading higher during the mid-session deals. The U.S. markets were closed on Monday.

"Domestic indices wiped out its early gains to close flat, tracking mixed global cues," said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, the international oil benchmark Brent crude declined 2.37% to $93.47 per barrel.

Foreign institutional investors (FIIs) offloaded shares worth ₹811.75 crore on Monday, as per the exchange data.

"Nifty failed to capitalise on the early gain as profit-taking happened," said Rupak De, Senior Technical Analyst at LKP Securities.

Top News Today

Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.