Indian benchmark indices Sensex and Nifty ended the volatile yet range-bound trading session flat as investors turned cautious amid mounting geopolitical headwinds and rising crude oil prices. The 30-share BSE Sensex closed with a slight gain of 26.76 points or 0.03 per cent at 78,520.30. Buying interest at lower levels helped the index recover steadily during the session, allowing it to erase initial losses and move into positive territory. However, the positive momentum faded as the session progressed. A sharp sell-off post 3 pm weighed on the indices, triggered by a combination of global and domestic factors.
Sharp selling during the final hour
“Heavy selling in financial stocks during the final hour further accelerated the decline, given their significant weight in the index. This was compounded by continued outflows from foreign institutional investors, which remain a persistent headwind for the market,” said Hariprasad K, SEBI-registered Research Analyst and Founder, Livelong Wealth
During the day, Sensex hit a high of 78,942.45 and a low of 78,203.30, gyrating 739.15 points. The 50-share NSE Nifty edged up 11.30 points or 0.05 per cent to settle at 24,364.85.
Among the 30-Sensex firms, Trent, State Bank of India, Asian Paints, NTPC, Bajaj Finance and InterGlobe Aviation were the major winners.ย Larsen & Toubro, Bharat Electronics, HCL Tech and Kotak Mahindra Bank were among the laggards.ย Brent crude, the global oil benchmark, jumped 4.76 per cent to USD 94.68 per barrel.
Asian markets end higher
In Asian markets, South Korea’s benchmark Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended higher.ย Markets in Europe were trading lower. US markets ended significantly higher on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 683.20 crore on Friday, according to exchange data.
On Friday, the Sensex jumped 504.86 points or 0.65 per cent to settle at 78,493.54. The Nifty climbed 156.80 points or 0.65 per cent to end at 24,353.55.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)