Stock Markets Reversed Early Gains Close Lower Today

Top laggards on the 50-scrip Nifty index were Mahindra & Mahindra, Grasim, Hindalco Industries, Bajaj Finance and Indian Oil.

Stock markets, reversed early gains to close lower today, as a selloff witnessed in banking, financial services, metal and energy spaces weighed.

BSE benchmark index Sensex ended 218 points lower at 34,981 while the NSE Nifty settled at 10,526, down 73 points or 0.7 per cent from the previous close. Thursday also marked the fourth consecutive trading session with the key indices finishing lower.

Top laggards on the 50-scrip Nifty index were Mahindra & Mahindra, Grasim, Hindalco Industries, Bajaj Finance and Indian Oil, closing between 2.4 per cent and 3 per cent lower.

Mild gains in Asian peers failed to support the domestic equity markets. Equities in other Asian markets stepped ahead cautiously, as rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.

MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.12 per cent.

The Sensex and Nifty finished the holiday-shortened week with a loss of 476 points and 155 points (1.3 per cent and 1.5 per cent) respectively.

The stock markets will remain closed on Friday for a public holiday.

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