Losses in banking and financial services stocks pulled the markets lower
Domestic stock markets started Thursday's session on a choppy note amid weakness in Asian equities. The S&P BSE Sensex index was stuck in a range of 172.86 points to fluctuate between gains and losses, touching 33,371.52 and 33,544.38 at the weakest and strongest levels respectively, soon after opening down 136.40 points at 33,371.52. The broader NSE Nifty 50 benchmark briefly slipped below the 9,850 mark, and moved between 9,845.05 and 9,895.90, as against its previous close of 9,881.15. Losses in banking and financial services stocks outweighed gains in IT and pharmaceutical stocks counters.
The markets turned flat in the first few minutes of trade. At 9:32 am, the Sensex traded 39.33 points - or 0.12 per cent - lower at 33,468.59, while the Nifty was down 1.50 point at 9,879.65.
Equities in other Asian markets moved lower with MSCI's broadest index of Asia Pacific shares outside Japan last seen trading 0.10 per cent lower.
While Japan's Nikkei 225, Hong Kong's Hang Seng and South Korea's KOSPI indices were down 1.01 per cent, 0.47 per cent and 0.61 per cent respectively at the time, China's Shanghai Composite was up 0.07 per cent.
The E-Mini S&P 500 futures were down 0.75 per cent in early Asian trade, indicating a negative start for the US markets on Thursday.
On Wednesday, Wall Street ended a choppy session on a negative note, with the S&P 500 benchmark index finishing 0.36 per cent lower. The Dow Jones Industrial Average closed 0.65 per cent lower, however the technology stocks-heavy Nasdaq Composite rose 0.15 per cent.
The Sensex ended 97.30 points - or 0.29 per cent - lower at 33,507.92 earlier on Wednesday, and the Nifty settled at 9,881.15, down 32.85 points - or 0.33 per cent - from its previous close.
