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India’s equity benchmarks BSE Sensex and NSE Nifty ended in red for the fifth day in a row due to weak weak global cues.
The Sensex was down by 0.83 per cent, or 617.30 points, to 73,885.60, while the broader Nifty50 closed at 22,488, down by 0.95 per cent, or 216 points.
Vinod Nair, Head of Research, Geojit Financial Services, said, “The benchmark index is taking cues from the US market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank’s interest rates cut policy. Meanwhile, the broader market continued the weak trend, led by profit booking, due to feeble closing of monthly expiry owing to lack of interest to hold short-term positions, as exit poll is slated in the weekend.”
Within the Nifty50 pack, ICICI Bank (1.45 per cent), Axis Bank (1.06 per cent), SBI (0.76 per cent), HDFC Bank (0.66 per cent) and Bharti Airtel (0.32 per cent) were the top gainers, while Tata Steel (5.19 per cent), Power Grid (3.16 per cent), Grasim (2.87 per cent), Bajaj Finserv (2.86 per cent) and Wipro (2.80 per cent) were the major laggards.
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