A view of the Bombay Stock Exchange building in Mumbai | file photo
Market benchmarks closed nearly 1 per cent lower on Thursday amid a weak trend in global equities and steady outflow of foreign funds.
The BSE Sensex closed 501.73 points, or 0.84 per cent, lower at 58,909.35. During the day, it fell 544.82 points, or 0.91 per cent, to close at 58,866.26.
The NSE Nifty closed at 17,321.90, down 129 points or 0.74 per cent.
From the Sensex pack, Maruti, Axis Bank, Tata Consultancy Services, Nestle, Infosys, Mahindra & Mahindra, Tech Mahindra and Bharti Airtel were the major laggards.
Power Grid, Sun Pharma, HCL Technologies, Larsen & Toubro and UltraTech Cement were the gainers.
In Asian markets, Japan, China and Hong Kong ended with losses, while Seoul closed in the green.
Europe’s stock markets were trading with a decline during afternoon trading. On Wednesday, US markets mostly closed with losses.
“Global markets were back in sell mode with US 10-year bond yields crossing 4 per cent as a new set of US data suggested inflation would remain persistent over the long term. Rising bond yields pushed forex to emerging markets getting out of.” And as a result, FIIs were net sellers in the domestic market for the sixth consecutive day,” said Vinod Nair, head of research at Geojit Financial Services.
International oil benchmark Brent crude rose 0.51 per cent to $84.74 per barrel.
Foreign portfolio investors (FPIs) again sold shares worth ₹424.88 crore on Wednesday, according to exchange data.