Sensex and Nifty extend decline in volatile session driven by bank stocks

On BSE, the overall breadth of the market remained weak, with 1,312 stocks rising while 2,055 fell.

New Delhi: Indian stock indices fell for the second straight session on Thursday, led by losses in bank stocks amid highly volatile trading conditions. Investors became cautious in the face of geopolitical tensions between Russia and Ukraine. The benchmark BSE Sensex lost 105 points or 0.18% to close at 57,892; while the broader NSE Nifty fell 18 points or 0.10% to end at 17,305. Both indices fluctuated between gains and losses throughout the session before settling in the red.

Mid and small cap stocks ended on a negative note as the Nifty Midcap 100 Index fell 0.30% and small cap stocks plunged 1.04%.

13 of 15 sector gauges – compiled by the National Stock Exchange – settled into the red. Nifty Private Bank and Nifty PSU Bank underperformed the index falling as much as 1.19% and 1.18%, respectively.

On the equity-specific front, ICICI Bank was Nifty’s biggest loser as the stock fell 2.15% to Rs 747.60. Axis Bank, UltraTech Cement, IndusInd Bank and UPL were also among the laggards.

On the other hand, Tata Consumer Products, HDFC, ONGC, Reliance Industries and HDFC Life were among the winners

On BSE, the overall breadth of the market remained weak, with 1,312 stocks rising while 2,055 fell.

On the 30-stock BSE platform, Axis Bank, ICICI Bank, UltraTech Cement, IndusInd Bank, Nestle India and TCS suffered the most losses, with their shares falling as much as 2.03%.

Both national exchanges have seen a see-saw trade since the start of this week, taking inspiration from global markets.

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