Sensex slips 87 pts in choppy trade

Sensex slips 87 pts in choppy trade

After jumping over 100 points in opening trade, the 30-share index pared all gains to trade 6.14 points, or 0.02 per cent, lower at 38,816.97 at 0945 hours.

Domestic equity benchmarks Sensex and Nifty ended on a negative note after a highly volatile session Friday, dragged by losses in financial stocks.
Investors were also cautious ahead of the release of key macroeconomic data, traders said.

After swinging 337 points during the day, the 30-share BSE Sensex settled 86.88 points or 0.22 per cent lower at 38,736.23. The index hit an intra-day low of 38,684.85 and a high of 38,684.85.

Similarly, the broader NSE Nifty dropped 30.40 points, or 0.26 per cent, to 11,552.50. During the day, it touched a low of 11,538.60 and a high of 11,639.55.

Top losers in the Sensex pack included Bajaj Finance, ONGC, IndusInd Bank, PowerGrid, L&T, Axis Bank, NTPC, Bharti Airtel, HDFC, HDFC Bank and Kotak Mahindra Bank, falling up to 2.08 per cent.

On the other hand, Vedanta, Sun Pharma, Tata Steel, Asian Paints, Hero MotoCorp and Yes Bank were among the gainers, rising up to 2.44 per cent.

Shares of Infosys ended 0.87 per cent higher ahead of the company's quarterly results.

According to traders, investors were cautious ahead of the release of inflation and industrial production data. Market was also nervous about the ongoing trade talks between India and the US, they added.

Elsewhere in Asia, Shanghai Composite Index, Hang Seng, Nikkei and Kospi ended in the green. Equities in Europe were also trading higher in early deals.

On the currency front, the Indian rupee depreciated 13 paise to 68.57 against the US dollar (intra-day).

The global oil benchmark Brent crude futures rose 0.89 per cent to USD 67.11 per barrel.