Mumbai: The BSE Sensex gave up all its early gains in choppy trade on Thursday and ended lower for the third straight session by falling over 200 points due to selling in metal, PSU, auto and banking stocks amid fresh fund outflows and a weak trend in the global market.
The 30-share Sensex opened higher at 35,282.33 points and advanced further to the day's high of 35,364.50 on the back of fresh buying by domestic investors amid further strength in the rupee.
It, however, slipped into the negative zone on selling pressure at improved levels, following a weak opening of European equities, and slipped below the 35,000-mark to hit a low of 34,937.98 before closing at 34,981.02, recording a fall of 218.78 points, or 0.62 percent.
The gauge had lost 575 points in the previous two sessions.
Similarly, NSE Nifty 73.30 points, or 0.69 percent, to close at 10,526.75.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
According to analysts, market failed to hold the opening gains as weak global market and selling in metals and PSU banks dragged the indices.
Global growth concerns due to trade war, rising interest rate and lower liquidity in the financial markets added to the woes, they added
Offloading of positions by participants ahead of the long weekend as markets will remain closed on Friday on account of "Guru Nanak Jayanti", too, negatively impacted investor sentiment here, brokers said.
The Indian currency continued its upward rising streak for the seventh straight day by rising 45 paise to 71.01 in late afternoon trade against the American currency (intra-day) at the interbank forex market.
Among Sensex constituents, M&M was the worst hit, dropping 3.02 percent, followed by Tata Steel shedding 2.28 percent.
Other laggards include Wipro, Axis Bank, Coal India, PowerGrid, SBI, ICICI Bank, Yes Bank, IndusInd Bank, NTPC, Bharti Airtel, HUL, Vedanta, Tata Motors, Sun Pharma, RIL, Asian Paints, HDFC Bank, Kotak Bank, Bajaj Auto, Hero MotoCorp, ITC and Infosys, falling up to 2.10 percent.
Bucking the trend, Adani Ports, L&T, TCS, ONGC and HDFC ended with gains up to 1.73 percent.
Sectorally, the BSE metal index emerged worst performer by falling 1.84 percent, followed by power index shedding 1.21 percent, realty 1.20 percent, PSU 1.17 percent, bankex 1.16 percent, consumer durables 1.06 percent, oil and gas 0.85 percent, auto 0.69 percent, healthcare 0.55 percent, infrastructure 0.55 percent, FMCG 0.31 percent, teck 0.19 percent and IT 0.10 percent. While, capital goods index managed to end in the positive zone.
In the broader markets, the midcap index fell 1.12 percent and the smallcap gauge lost 0.79 percent.
Shares of oil marketing companies, IOC, BPCL and HPCL, lost up to 3.08 percent on profit-booking.
Meanwhile, foreign institutional investors (FIIs) sold shares to the tune of Rs 1,652.04 crore, while domestic institutional investors (DIIs) bought shares worth a net of Rs 606.73 crore, on Wednesday, provisional data showed.
Elsewhere in Asia, Shanghai Composite Index fell 0.23 percent, Taiwan shed 0.28 percent, Korea's KOSPI fell 0.32 percent and Hong Kong's Hang Seng fell 0.08 percent. Japan's Nikkei, however, rose 0.65 percent.
In European markets, Paris CAC fell 0.61 percent, Frankfurt's DAX lost 0.53 percent, while London's FTSE fell 0.72 percent in their early session.
The US Dow Jones Industrial Average erased early gains to end almost flat on Wednesday.
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Updated Date: Nov 22, 2018 17:55:42 IST