Markets rise marginally amid volatile trade

Mumbai: Equity benchmark indices ended marginally higher on Thursday amid volatility faced during the last minutes of trading hours as concerns over rising inflation and fears of monetary tightening worldwide hit the sentiment.

The BSE Sensex eked out marginal gains of 44.42 points or 0.07 per cent to settle at 61,319.51. During the day, it jumped 407.16 points or 0.66 per cent to 61,682.25.

The NSE Nifty advanced 20 points or 0.11 per cent to end at 18,035.85.

From the Sensex firms, Tech Mahindra jumped 5.58 per cent, followed by Nestle, Tata Steel, NTPC, Tata Consultancy Services, Asian Paints, Wipro and Bajaj Finserv.

Mahindra & Mahindra, Hindustan Unilever, Axis Bank and Bajaj Finance were among the major laggards.

In the broader market, the BSE midcap gauge jumped 0.93 per cent and smallcap index climbed 0.90 per cent.

Among the sectoral indices, realty jumped 1.34 per cent, metal rallied 1.28 per cent, IT climbed 1.27 per cent, industrials (1.13 per cent), commodities (1.08 per cent) and capital goods (0.97 per cent).

Financial Services, FMCG, auto and bankex were the laggards.

The government has cut windfall profit tax on export of diesel and ATF to their lowest while also reducing the levy on domestically-produced crude in line with softening international oil prices, according to an official order.

Foreign Portfolio Investors (FPI) were net buyers as they bought shares worth Rs 432.15 crore on Wednesday, according to exchange data.

The rupee appreciated by 15 paise to close at 82.68 against the US dollar on Thursday, supported by broad dollar weakness and a positive trend in domestic equities.

International oil benchmark Brent crude dipped 0.35 per cent to $85.08 per barrel.