NEW DELHI: Markets witnessed a choppy session on Thursday with both the BSE and NSE indices finishing in red for the third straight day by erasing all the gains posted in early trade. The benchmark BSE Sensex lost 219 points or 0.62 per cent to close at 34,981, while the broader NSE Nifty plunged 73 points or 0.69 per cent to end at 10,527.
Mahindra and Mahindra, Tata Steel, Wipro, Power Grid and Axis Bank were among the worst performers on the BSE index with their stocks declining as much as 3 per cent. On NSE, sub-indices Nifty Metal, PSU Bank and Realty tracked major losses, down as much as 1.77 per cent.
Sensex and Nifty had turned positive in early trade on fresh gains in IT stocks amid rising rupee and easing crude prices. But, soon gave up gains due to profit-booking and weak Asian cues.
Offloading of positions by participants ahead of the long weekend as markets will remain closed on Friday on account of “Guru Nanak Jayanti”, too, negatively impacted investor sentiment, brokers said.
The 30-share BSE index had lost over 575 points in the last two sessions.
Asian shares stepped ahead cautiously on Thursday, as rising US interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.
(With inputs from agencies)