Losses in IT and metal shares pulled the markets lower
Benchmark indices S&P BSE Sensex and NSE Nifty 50 ended Thursday's highly volatile session lower as future and options contracts for the month of June expired. During the session, the indices fluctuated between gains and losses, switching direction more than five times. Losses in IT and metal shares offset gains in consumer goods and pharmaceutical stocks. The Sensex moved in a range of 582 points, and the Nifty moved between 10,194.50 and 10,361.80 during the session.
The Sensex closed 27 points or 0.08 per cent lower at 34,842.10 and Nifty declined 16 points or 0.16 per cent to settle at 10,288.90
For the June series, the Sensex climbed 8.2 per cent and Nifty rose 8.41 per cent.
Six of 11 sector gauges compiled by the National Stock Exchange ended lower, led by a 1.2 per cent fall in the Nifty IT index. The Nifty Realty, Metal and Media indices declined between 0.2 per cent and 0.8 per cent.
On the other hand, the Nifty FMCG index was the top gainer, rising 2 per cent.
Mid- and small-cap shares witnessed buying interest, with the Nifty Midcap 100 index advancing 0.9 per cent and the Nifty Smallcap 100 index rising 0.6 per cent.
Asian Paints was the top Nifty loser, falling 3 per cent to Rs 1,692. Hindalco, Indian Oil, Eicher Motors, Infosys, Shree Cements, Adani Ports, Bharat Petroleum, NTPC, Mahindra & Mahindra and Coal India were also among the losers.
On the flipside, ITC was the top Nifty gainer. The stock rose 6 per cent to close at Rs 202. Hero MotoCorp, Bajaj Finance, Kotak Mahindra Bank, GAIL India, Vedanta, Hindustan Unilever, Cipla, ICICI Bank and State Bank of India rose between 0.6 per cent and 2.9 per cent.
Overall market breadth was positive as 1,531 shares closed higher while 1,171 ended lower on the BSE.
