Mumbai, Jun 19 (PTI): Benchmark indices Sensex and Nifty ended lower for the third straight session on Thursday, in line with weak trends in global markets, as geopolitical uncertainties due to the ongoing Iran-Israel conflict unnerved investors.
The US Fed's decision to keep interest rates unchanged and rising global crude prices also dampened market sentiment, experts said.
In a largely volatile trade, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to settle at 81,361.87. During the day, it hit a high of 81,583.94 and a low of 81,191.04, gyrating 392.9 points.
As many as 3,018 stocks declined, while 959 advanced and 140 remained unchanged on the BSE.
The 50-share NSE Nifty dipped 18.80 points or 0.08 per cent to 24,793.25.
"The Indian equity index experienced range-bound movement with a negative bias as cautious sentiment spread across the globe, driven by concerns over the potential US involvement in the Middle East conflict.
"Investor mood was further affected by the Fed's decision to keep interest rates unchanged while signalling persistent inflation and slower economic growth, which weighed on software export stocks," Vinod Nair, Head of Research, Geojit Investments Limited, said.
From the Sensex firms, Adani Ports, Bajaj Finance, Tech Mahindra, IndusInd Bank, Nestle and Tata Steel were among the major laggards.
In contrast, Mahindra & Mahindra, Titan, Larsen & Toubro, Bharti Airtel and Maruti were among the gainers.
The BSE smallcap gauge tanked 1.77 per cent and the midcap index lost 1.64 per cent.
Among BSE sectoral indices, services dropped 1.68 per cent, realty (1.63 per cent), utilities (1.61 per cent), power (1.24 per cent), IT (1.14 per cent), metal (1.18 per cent) and commodities (1.05 per cent).
Auto emerged as the only gainer.
In Asian markets, Japan's Nikkei 225 index, Shanghai's SSE Composite index and Hong Kong's Hang Seng settled in the negative territory, while South Korea's Kospi ended marginally higher.
European markets were trading lower in mid-session deals.
US markets ended on a mixed note on Wednesday.
"Markets traded lacklustre on the weekly expiry day and ended almost flat amid mixed cues. The US Fed's decision to maintain the status quo, which was largely anticipated, failed to elicit any significant reaction," Ajit Mishra - SVP, Research, Religare Broking Ltd, said.
With geopolitical tensions driving crude prices higher, further deterioration is likely if crude makes a sustained move above the USD 80 mark, he added.
Global oil benchmark Brent crude climbed 0.26 per cent to USD 76.90 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 890.93 crore on Wednesday, according to exchange data. Domestic Institutional Investors (DIIs) purchased shares worth Rs 1,091.34 crore.
On Wednesday, the 30-share BSE Sensex declined by 138.64 points or 0.17 per cent to settle at 81,444.66. The Nifty edged lower by 41.35 points or 0.17 per cent to settle at 24,812.05.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Kozhikode: There are strong indications that Nimisha Priya’s death sentence in Yemen may be revoked following significant progress in recent mediation talks. According to mediators, the family of the deceased Yemeni national Talal, who was killed, has agreed in principle to pardon Nimisha.
A press release from the office of Kanthapuram A.P. Aboobacker Musliyar stated that some crucial decisions have been taken in the case. The developments follow high-level negotiations involving a delegation of Yemeni scholars appointed by Habib Umar bin Hafiz, a prominent scholar from Tarim, along with officials from northern Yemen and international diplomatic representatives.
Further discussions with Talal’s family are expected to finalise the terms, especially concerning compensation and legal formalities.
It may be recalled that Nimisha was scheduled to be executed on July 16. However, following the intervention of Kanthapuram A.P. Aboobacker Musliyar, the execution was temporarily postponed on July 15.