Markets close lower on selling in HDFC Bank, RIL amid FII outflows

Mumbai, Mar 3 (PTI) Equity benchmark indices Sensex and Nifty closed lower in a volatile trade on Monday due to intense selling pressure in market heavyweights HDFC Bank and Reliance Industries amid unabated foreign fund outflows.

Falling for the second straight session, the 30-share BSE benchmark declined 112.16 points or 0.15 per cent to close at 73,085.94. During the day, it hit a high of 73,649.72 and a low of 72,784.54.

Extending losses for the ninth straight day, the NSE Nifty slipped 5.40 points or 0.02 per cent to settle at 22,119.30. In the session, it slumped 120 points or 0.54 per cent to hit 22,004.70.

From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards.

UltraTech Cement, Bharti Airtel, NTPC, Infosys, Bajaj Finance, Mahindra & Mahindra, Larsen & Toubro and State Bank of India were the gainers.

In Asian markets, Tokyo and Hong Kong were ended in green, while Shanghai in red. Seoul stock markets were closed due to a holiday.

European markets were trading in the positive territory in the mid-session deals. The US markets ended positive on Friday.

Meanwhile, global oil benchmark Brent crude dipped 0.58 per cent to USD 72.39 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 11,639.02 crore on Friday, according to exchange data.

On Friday, the BSE index tanked 1,414.33 points to settle at 73,198.10. The NSE Nifty slumped 420.35 points to close at 22,124.70. PTI HG HG BAL BAL

Source: PTI