Equity benchmark indices climbed in early trade on Thursday however later gave up all of the positive aspects to cite lower on emergence of profit-taking amid the scheduled month-to-month derivatives expiry and muted development within the US markets.
The 30-share BSE Sensex climbed 118.2 factors to 67,020.11 in early trade. The Nifty went up by 39.55 factors to twenty,136.15.
Later, each the benchmark indices gave up all of the early positive aspects and had been buying and selling lower. The Sensex traded 214.84 factors lower at 66,687.07 whereas the Nifty fell 55.80 factors to twenty,040.80.
Among the Sensex companies, UltraTech Cement, Mahindra & Mahindra, Axis Bank, Wipro, Hindustan Unilever, Sun Pharma, Kotak Mahindra Bank and Larsen & Toubro had been the main gainers.
Tata Steel, Reliance Industries, Tata Motors and NTPC had been among the many laggards.
In Asian markets, Shanghai and Hong Kong traded with positive aspects, whereas Seoul and Tokyo quoted within the unfavorable territory.
The US markets ended principally lower on Wednesday.
Overnight weak spot within the U.S. markets and subsequent fall in Asian indices might restrict the positive aspects, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, stated in his pre-opening market remark.
“As traders square off their positions on the monthly expiry day today, intra-day volatility could be seen,” he added.
Global oil benchmark Brent crude declined 0.18% to $82.95 a barrel.
Foreign Institutional Investors (FIIs) purchased equities value ₹71.91 crore on Wednesday, based on trade knowledge.
The BSE benchmark jumped 727.71 factors or 1.10% to settle at 66,901.91 on Wednesday. The Nifty climbed 206.90 factors or 1.04% to reclaim the 20,000-mark after a niche of over two months. It ended at 20,096.60.
