Sensex Today: The Indian equity benchmarks ended lower for the fourth straight session with the Nifty breaking 17,000 intraday in the highly volatile session on March 14.
At close, the Sensex was down 337.66 points or 0.58 per cent at 57,900.19, and the Nifty was down 111.00 points or 0.65 per cent at 17,043.30.
Broader indices, however, were seen holding gains up to 0.5 per cent. The volatility index, India VIX, meanwhile, slipped 5 per cent.
Among individual stocks, shares of Maruti Suzuki India (MSIL) gained 2 per cent, after the company said its promoter, Suzuki Motor Corporation, has bought over 3 lakh shares of the company, worth about Rs 300 crore, via open market.
Besides, shares of NBCC (India) rallied over 3 per cent after it secured Rs 500 crore work order to construct Government Medical College and Hospital at Karaikal, Puducherry.
Amid weak Asian markets, the Indian benchmarks started on a negative note but recovered the losses and traded flat for a couple of hours before bears took charge. However, a 25-month low WPI inflation helped erase all the intraday losses but selling across the sectors dragged the benchmarks into the red.
“The selling continued while the degree of ambiguity over the US banks reduced due to supportive measures announced by the US FED. The underlying issue of the market is high interest rates, which will continue to wreak havoc in the world economy,” said Vinod Nair, Head of Research at Geojit Financial Services.
Global Cues
Globally, the US markets inched higher overnight after US annual consumer inflation eased to 6 per cent in February. Dow Jones, NASDAQ Composite, and the S&P 500 indices climbed up to 2 per cent.
Asia-Pacific markets, too, cheered in tandem, with Nikkei 225, Kospi, Kosdaq, Topix, and the S&P 200 indices gained up to 2 per cent.
In the commodities market, prices of Brent Crude, and WTI Crude climbed over 1 per cent each to $78 per barrel, and $72 per barrel.
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