Markets end on flat note in choppy trade

Benchmark indices ended on a flat note on Thursday, with the Sensex dipping 8 points as fag-end volatility wiped out intra-day gains amid weak global trends.

The BSE benchmark Sensex slipped 8.03 points or 0.02% to settle at 53,018.94. During the day, it had gained 350.57 points or 0.66% to 53,377.54.

The NSE Nifty fell 18.85 points or 0.12% to 15,780.25.

Among the Sensex pack, Tech Mahindra, Bajaj Finance, Bajaj Finserv, M&M, Tata Steel and IndusInd Bank were among the major laggards.

In contrast, Axis Bank, State Bank of India, Kotak Mahindra Bank, NTPC and Larsen & Toubro were the prominent gainers.

Elsewhere in Asia, markets in Tokyo, Seoul and Hong Kong ended lower, while Shanghai settled in the green.

European markets were trading lower in mid-session deals.

The U.S. markets ended on a mixed note on Wednesday.

“Asian and European markets struggled to regain footing amid global recession fears, leading to a resurgent US dollar, which benefitted from safe-haven demand. FII selling nearing exhaustion provided comfort to the jittery Indian market,” said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, international oil benchmark Brent crude dipped 0.04% to $116.2 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 851.06 crore on Wednesday, as per exchange data. PTI SUM SUM ABM ABM