Markets settled lower on fag-end sell-off; Sensex down 311 points

MUMBAI: Equity benchmarks eased lower on Thursday, with IT and bank stocks playing poorly amid monthly derivatives expiry, fag-end selling.

Having been in positive territory for the most part of the business, BSE Sensex It suddenly came under selling pressure during the last half-hour of the session, losing 310.71 points, or 0.53 per cent, to close at 58,774.72. During the day it touched a high of 59,484.35 and a low of 58,666.41.

Similarly, the broader NSE Nifty ended 82.50 points or 0.47 per cent lower at 17,522.45.

Bajaj Finance, IndusInd Bank, Infosys, Tata Consultancy Services, Axis Bank, Power Grid, NTPC, Larsen & Toubro and HDFC were among the laggards in the Sensex pack.

Maruti Suzuki India, State Bank of India, Dr Reddy’s and Titan were among the gainers.

In Asia, markets in Seoul, Tokyo, Hong Kong and Shanghai ended higher.

European stock markets were trading in the green during mid-session deals. Wall Street closed with gains on Wednesday.

Meanwhile, international oil benchmark Brent crude rose 0.17 per cent to $101.3 per barrel.

Foreign institutional investors (FIIs) bought shares worth Rs 23.19 crore on Wednesday, according to exchange data.