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Markets end in red on global cues
Sensex drops by 118 pts; Nifty closed marginally low at 11,923
Mumbai: Benchmark indices slipped from higher levels to settle lower on Thursday as investors looked beyond positive political developments and weighed concerns around global trade war and macro-economic indicators.
In a highly volatile session, the benchmark BSE Sensex ended 118 points lower, dragged by losses mainly in auto and financial stocks. The NSE Nifty too edged 23 points down to settle below the 12,000-mark. However, on a weekly basis, the Sensex gained 279.4 points and the Nifty rose 78.70 points.
Post announcement of key portfolios in newly elected government, focus to shift towards various economic reforms and policies.
After gyrating nearly 750 points, the 30-share index settled 117.77 points, or 0.30 per cent, lower at 39,714.20.
The broader NSE Nifty also settled lower by 23.10 points, or 0.19 per cent, at 11,922.80.
Sectorally, BSE power, metal, FMCG, utilities, basic materials, auto and banking indices fell up to 1.30 per cent. While, BSE teck, oil and gas, telecom and energy indices rose up to 1.07 per cent.
