New Delhi:
Equity benchmark indices declined in early trade on Friday in highly volatile trade as investors preferred to remain on the sidelines after a four-day rally in the markets.
BSE’s 30-share Sensex closed at 60,575.59, down 73.79 points. The broader NSE Nifty closed 17.85 points lower at 17,897.20.
Bajaj Finserv, Asian Paints, Hindustan Unilever, Axis Bank, IndusInd Bank, Power Grid, Bajaj Finance and Kotak Mahindra Bank were the major losers in the Sensex pack.
The gainers included Wipro, Tech Mahindra, Tata Consultancy Services, Sun Pharma and Reliance Industries.
In Asian markets, Seoul traded lower, while Japan, Shanghai and Hong Kong remained in the green.
On Thursday, the US markets closed with a good gain.
“Markets may see the beginning of volatility as SGX Nifty sees a sharp rally even as major US indices bounced back sharply from the recent slump and closed higher in overnight trade 18,000 mark. Due to recent rally, there are chances that Nifty may recapture. Psychological 18,000 mark.
Mehta Equities Senior VP (Research) Prashant Tapase said, “FII buying in local stocks also continued and they bought shares worth Rs 1,653 crore in yesterday’s trade, while sluggish crude oil prices below $ 80 per barrel in India. Good sign for the economy. Ltd said in its pre-market opening quote.
He further added that with the global macroeconomic scenario still looking extremely gloomy and local markets rallying in recent sessions, profit-booking could be on the cards going forward.
On Thursday, the BSE benchmark closed 348.80 points or 0.58 per cent higher at 60,649.38. The Nifty closed 101.45 points, or 0.57 per cent, higher at 17,915.05.
Meanwhile, global oil benchmark Brent crude climbed 0.41 per cent to $78.69 per barrel.
Foreign institutional investors (FIIs) were the buyers on Thursday as they bought equities worth Rs 1,652.95 crore, according to exchange data.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)