Markets end marginally lower amid mixed global cues


Mumbai, May 2 (PTI) Equity benchmarks Sensex and Nifty ended on a negative note after a volatile session Thursday as weakness in banking and auto stocks weighed on investor sentiment amid mixed global cues.

The BSE Sensex settled 50.12 points, or 0.13 per cent, lower at 38,981.43. During the day, the index swung over 300 points, hitting an intra-day low of 38,882.99 and a high of 39,189.95.

In similar movement, the broader NSE Nifty slipped 23.40 points, or 0.20 per cent, to close at 11,724.75. It also saw an intra-day movement of 89.75 points.

In the Sensex pack, Tata Motors was the biggest loser, shedding 3.29 per cent, followed by ICICI Bank, IndusInd Bank, Infosys, HCL Tech, Axis Bank, TCS, HUL, Asian Paints, Sun Pharma, SBI, Tata Steel and NTPC, which dropped up to 3.23 per cent.

On the other hand, Yes Bank was the top gainer, rebounding 3.45 per cent. PowerGrid, HDFC twins, Hero MotoCorp, Bajaj Auto, Bharti Airtel, Bajaj Finance, Kotak Bank, RIL, L&T, Vedanta, ITC, ONGC and Maruti too ended in the green, rising up to 1.88 per cent.

According to traders, market sentiment was choppy as investors took weak cues from global equities after the US Federal Reserve Wednesday decided to keep its benchmark interest rate unchanged amid mixed signals about the direction of the American economy.

Meanwhile, India’s manufacturing sector performance eased to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment, a monthly survey showed Thursday.

The Nikkei India Manufacturing Purchasing Managers’ Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

Elsewhere in Asia, Kospi and Hang Seng ended in the green, while other major bourses in China and Japan were shut.
European equites started off on a mixed note.

The rupee, meanwhile, appreciated 10 paise to 69.45 against the US dollar intra-day.

Global benchmark Brent crude was trading 1.25 per cent lower at USD 71.28 per barrel.


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