Sensex falls 110pts, Nifty dips for 6th day on FII selling, inflationary concerns

Benchmark Sensex declined by 110 points in a see-saw trade on Thursday, marking its third straight session of losses amid continued FII selling, disappointing quarterly results and soaring inflation.

BSE Sensex dropped 110.64 points or 0.14% to settle at 77,580.31. During the day, it dropped 266.14 points or 0.34% to 77,424.81.

Broader NSE Nifty dropped by 26.35 points or 0.11% to close at 23,532.70, extending its losing streak to the sixth day.

From the 30-share Sensex pack, Hindustan Unilever, NTPC, Nestle, IndusInd Bank, Power Grid, Adani Ports, Tata Motors and Bajaj Finserv were the major laggards.

Reliance Industries, Kotak Mahindra Bank, Tech Mahindra, Mahindra & Mahindra and HDFC Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹2,502.58 crore on Wednesday, while Domestic Institutional Investors (DIIs) bought shares worth ₹6,145.24 crore, according to exchange data.

In Asian markets, Tokyo, Shanghai and Hong Kong settled lower while Seoul ended in the positive territory.

European markets were trading higher. The US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude dipped 0.06% to $72.24 a barrel.

Sensex tanked 984.23 points or 1.25% to settle at 77,690.95 on Wednesday. Registering its fifth day of decline, the Nifty tumbled 324.40 points or 1.36% to 23,559.05.