Domestic stock markets closed in the red on Thursday amid volatility as the monthly derivatives contracts for April expired. The S&P BSE Sensex fell 323.82 points, or 0.83 per cent, to end at 38,730.86, while the broader NSE Nifty finished 84.35 points or 0.72 per cent lower from the previous close. A selloff across banking, financial services, fast-moving consumer goods and metal stocks weighed on the benchmark indexes. The Sensex moved in a range of 39,262.22-38,663.98 during the session.
The Nifty hit an intraday high of 11,796.75 and a low of 11,624.30 before shutting shop at 11,641.80.
Thirty nine out of 50 Nifty stocks finished lower for the day. Prominent losers on the Nifty50 were Bharti Infratel, Tata Steel, Vedanta, Maruti Suzuki and Hindalco Industries, settling between 9.62 and 1.94 per cent lower. Bharti Infratel closed 9.62 per cent lower after the telecom tower operator reported its earnings for the quarter ended March 31.
Top laggards on the 30-scrip Sensex were Tata Motors, Coal India, SBI, Maruti Suzuki, Vedanta and Tata Steel, ending between 2.74 and 1.31 per cent lower.
Maruti Suzuki India shares closed 1.95 per cent lower after the auto maker forecast a weak rate of growth for the current fiscal year amid an industry-wide weakening of demand. Maruti Suzuki India reported a 4.6 per cent fall in net profit to Rs 1,795.6 crore for the March quarter.
Stock markets made new highs during the month but could not sustain those gains due to profit-booking at higher levels, according to Rahul Mishra, AVP (derivatives), Emkay Global Financial Services.
Meanwhile, the rupee shed 0.5 per cent against the dollar in intraday trade on surging crude oil prices. Brent crude futures, the global oil benchmark for crude oil, rose 1.25 per cent to cross the $75 per barrel mark.
Foreign institutional investors (FIIs) purchased equities worth Rs 974.88 crore on Wednesday, while domestic institutional investors (DIIs) sold shares to the tune of Rs 657.06 crore, according to provisional data from the NSE.
(With inputs from agencies)
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