Sensex, Nifty edge down in see-saw trade

Mumbai: Benchmark Sensex declined by 110 points in a see-saw trade on Thursday, marking its third straight session of losses amid continued FII selling, disappointing quarterly results and soaring inflation. Equity markets will remain closed on Friday for Guru Nanak Jayanti.

The 30-share Sensex dropped 110.64 points or 0.14 per cent to settle at 77,580.31 in a lacklustre trade. The index started on a positive note, but lost momentum later due to increased selling. During the day, it dropped 266.14 points or 0.34 per cent to 77,424.81. Broader NSE Nifty dropped by 26.35 points or 0.11 per cent to close at 23,532.70, extending its losing streak to the sixth day. However, the market capitalisation (mcap) of all the BSE-listed companies rose by Rs1.14 lakh crore to Rs4,30,60,789.47 cr (Rs430.60 lakh cr or $5.10 trn).

“The domestic market experienced a lacklustre trading, but some stability was observed throughout the day, from the low.

The sustainability of this trend remains uncertain as FIIs continue to be on the selling side. But on a positive note the degree of selling is reducing,” Vinod Nair, head (research), Geojit Financial Services.

The BSE smallcap gauge climbed 0.83 per cent and midcap index went up by 0.41 per cent.