Markets snap 2-day gains in sideways trading

Mumbai: Equity benchmarks Sensex and Nifty surrendered early gains to close with losses in a volatile session on Friday, snapping their two-day winning streak as investors pared exposure to realty, oil & gas and healthcare stocks amid a mixed trend in global markets. Unabated foreign fund outflows also dented investor sentiment. After swinging between gains and losses, the 30-share BSE benchmark dropped 329.92 points or 0.43 per cent to settle at 76,190.46. During the day, it slumped 428.63 points or 0.56 per cent to 76,091.75. The NSE Nifty declined 113.15 points or 0.49 per cent to 23,092.20. On a weekly basis, the BSE index declined 428.87 points or 0.55 per cent, and the Nifty dipped 111 points or 0.47 per cent.

“Markets ended weak in volatile trade amid selling in auto, oil & gas and realty shares. A sharp appreciation in the rupee against the dollar limited the fall, but the undertone continues to remain cautious with a weak bias.