Stock mkts give up gains to end lower as W Asia war escalates

Benchmark stock indices Sensex and Nifty closed lower in volatile trade on Thursday, as investors remained cautious amid rising tensions between the US and Iran.

The 30-share BSE Sensex declined 150.63 points, or 0.20%, to settle at 73,832.55. During the day, the benchmark hit a high of 74,394.34 and a low of 73,518.75, gyrating 875.59 points. The 50-share NSE Nifty edged lower by 53.35 points, or 0.23%, to settle at 23,161.60, closing down for the second consecutive day. Intraday, the benchmark index hit a high of 23,327.45 and a low of 23,072.05. 

Unabated foreign fund outflows and a spike in US inflation also led to muted market trading, according to analysts. 

"Indian equities witnessed another highly volatile session today, with benchmark indices staging a strong recovery from opening losses before surrendering gains in the second half of the day," Hariprasad K, Research Analyst and Founder, Livelong Wealth, said.

Among the Sensex firms, Infosys, HCL Tech, Adani Ports, Bajaj Finance, Eternal and Bharat Electronics were the biggest laggards. Conversely, Mahindra & Mahindra, ICICI Bank, Kotak Mahindra Bank and Sun Pharma were among the winners. FIIs offloaded Indian equities worth `2,124.98 crore on Wednesday, according to exchange data.