Markets snap 2-day winning run in volatile trade amid profit-taking in IT, oil shares

Mumbai: Benchmark BSE Sensex retreated from record levels and closed lower by 284 points in a volatile trade on Thursday due to profit-taking in financials, IT and oil shares after a two-day rally and negative trends in the US and European markets.

The 30-share BSE Sensex fell by 284.26 points or 0.45 per cent to settle at 63,238.89 as 20 of its components declined.

The barometer touched a record intra-day peak of 63,601.71 in initial deals. However, the index faced volatile trends and declined 322.52 points or 0.50 per cent to a low of 63,200.63 during the day.

The NSE Nifty closed lower by 85.60 points or 0.45 per cent to end at 18,771.25, snapping its two days of gains. The index closed at its all time high of 18,856.85 on Wednesday.

From the Sensex pack, Bajaj Finance, Tata Motors, Asian Paints, Power Grid, NTPC, Infosys, Nestle, Reliance Industries and UltraTech Cement were the biggest laggards.

Larsen & Toubro, Tata Steel, HDFC, Bharti Airtel, HDFC Bank and Mahindra & Mahindra were among the major gainers.

In the broader market, the BSE midcap gauge fell 1.07 per cent and smallcap index declined 0.64 per cent.

All the indices ended in the negative territory, with power falling 1.47 per cent, utilities declining 1.16 per cent, telecommunication (1.05 per cent), commodities (0.98 per cent), IT (0.91 per cent), realty (0.88 per cent), consumer discretionary (0.85 per cent), energy (0.77 per cent) and metal (0.68 per cent).

The rupee appreciated by 5 paise to close at 81.96 against the US dollar on Thursday amid weak American currency against major rivals overseas.