Benchmark stock market indices ended lower in a volatile session as persistent selling by foreign institutional investors (FII) offset Q3 earnings trend. Higher oil prices also weakened sentiments on Dalal Street.
The S&P BSE Sensex fell 0.28 per cent to settle at 60,092.97, while the NSE Nifty50 closed 0.34 per cent lower at 17,894.85. Both benchmark indices had gained more than 0.5 per cent in the earlier trading session. Of the 13 major sectoral indices, 10 declined with Nifty Financials and Nifty Metal registering deep losses. The broader markets also fell after a decent start to the day. The weakness in the market comes against the flow as FIIs continue to mount selling pressure.
According to experts, the volatility in the markets is likely to continue in the near term due to extended selling by foreign portfolio investors. FIIs have turned net sellers for the last 16 sessions in a row, which is the longest streak in six months, showed data from the stock exchange.
Stock markets are also experiencing higher volatility due to lower buying interest among domestic investors.
