Weak cues from global markets also weighed on investor sentiment here, traders said.
After swinging 581.83 points during the day, the 30-share BSE Sensex settled 26.88 points, or 0.08 per cent, lower at 34,842.10. It touched an intra-day high of 35,081.61 and a low of 34,499.78.
Similarly, the NSE Nifty slipped 16.40 points, or 0.16 per cent, to close at 10,288.90. During the day, it hit a high of 10,361.80 and a low of 10,194.50.
Asian Paints was the top loser in the Sensex pack, shedding over 3 per cent, followed by Infosys, HCL Tech, M&M, ONGC, NTPC, IndusInd Bank and TCS.
On the other hand, ITC, Bajaj Finance, Kotak Bank and HUL were among the gainers.
According to Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi, market opened lower tracking negative overnight cues from the US markets and subdued Asian markets as IMF slashed its economic forecasts again on Wednesday.
The IMF said the global economy will shrink 4.9 per cent this year, significantly worse than the 3 per cent drop it had estimated in its previous report in April.
Also, the expiry day for monthly futures and options (F&O) contracts fuelled volatility in the market as it see-sawed at crucial levels, he added.
Further, rising number of COVID-19 cases in the world is offsetting the optimism over reopening of economies, spooking equity investors globally, traders said.
Bourses in Japan and Seoul ended up to 2.27 per cent lower, while those in Shanghai and Hong Kong were closed for public holidays.
Stock exchanges in Europe were trading on a mixed note in early deals.
The number of COVID-19 cases around the world has crossed 94.08 lakh and the death toll has reached 4.82 lakh.
India”s coronavirus case count stood at 4,73,105, with 14,894 fatalities.
Meanwhile, international oil benchmark Brent crude futures slipped 0.42 per cent to USD 40.14 per barrel.
On the currency front, the rupee provisionally settled 7 paise higher at 75.65 against the US dollar. PTI ANS ABM
ABM
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
