Sensex, Nifty pare early gains to close in red; fall for 2nd day
The Hindu
Tech Mahindra, Infosys, Tata Steel, Bajaj Finserv, Axis Bank and Indusind Bank were among the major laggards.
Benchmark indices Sensex and Nifty gave up early gains to close in negative territory on Thursday dragged down by IT and pharma stocks which fell amid fears of recession in the global economy.
The 30-share Sensex opened higher and rose further to touch a day's high of 60,676.12 on gains in auto and capital goods shares. However, it gave up all early gains and later closed 412.96 points or 0.68% lower at 59,934.01. The barometer fell 481.22 points or 0.79% to a low of 59,865.75 during the session.
The Nifty dipped 126.35 points or 0.7% to settle at 17,877.40.
From the Sensex pack, Tech Mahindra, Infosys, Tata Steel, Bajaj Finserv, Axis Bank, and Indusind Bank were among the major laggards.
Maruti, Power Grid, NTPC, HDFC, Bharti Airtel, Larsen & Toubro and State Bank of India ended higher.
Asian markets in Tokyo and Hong Kong ended in the green, while Shanghai and Seoul settled lower.
The U.S. markets had ended on a positive note on Wednesday.
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