Markets decline due to selling pressure in index majors, Sensex drops 236 points

Mumbai: Equity market benchmark indices Sensex and Nifty ended lower on Thursday due to selling pressure in index majors Reliance Industries, L&T and HUL as investors turned cautious ahead of the inflation data announcement.

Besides, weakness in the rupee and foreign fund outflows hit investors’ sentiment, traders said.

The 30-share BSE benchmark Sensex declined 236.18 points or 0.29 per cent to settle at 81,289.96. The NSE Nifty dropped 93.10 points or 0.38 per cent to 24,548.70.

Among the 30-share Sensex blue-chip firms, NTPC, Hindustan Unilever, Tata Motors, Maruti, Larsen & Toubro, Reliance Industries, Asian Paints and State Bank of India were the biggest laggards.

Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports and Tata Consultancy Services were among the gainers.

The BSE smallcap gauge tanked 1 per cent, and the midcap index declined 0.56 per cent.

FMCG dropped 1.15 per cent, energy (1.03 per cent), industrials (0.83 per cent), consumer discretionary (0.81 per cent), oil & gas (0.73 per cent) and auto (0.70 per cent).

IT, utilities, teck and BSE Focused IT were the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green.

European markets were trading on a mixed note. Wall Street ended mostly higher in overnight trade on Wednesday.

The 30-share BSE benchmark rose by 16.09 points or 0.02 per cent to settle at 81,526.14 on Wednesday. The Nifty advanced 31.75 points or 0.13 per cent to settle at 24,641.80.