Equity Indices Slide After Reaching Record Highs Amid Volatility

The equity benchmark indices experienced significant volatility, initially climbing to record highs and then sliding back into negative territory. The BSE Sensex and NSE Nifty hit new peaks before losing their gains, influenced by mixed performances among key stocks and global market trends. FIIs made substantial purchases recently.

Equity benchmark indices saw a sharp reversal after hitting new record-high levels in Thursday's volatile trading session.

The 30-share BSE Sensex, which started weak, rebounded to climb 193.9 points to a new peak of 80,910.45 but soon fell back, trading 151.38 points lower at 80,550.97 by 11:22 hours.

The NSE Nifty followed a similar pattern, recovering initial losses to climb 65.9 points to a fresh high of 24,678.90, only to slip back, down by 66.35 points at 24,546.65.

Adani Ports, Asian Paints, Tata Steel, NTPC, Power Grid, and UltraTech Cement emerged as the biggest laggards among the Sensex pack, while Tata Consultancy Services, Hindustan Unilever, Bajaj Finserv, Tech Mahindra, and State Bank of India traded positively.

In Asian markets, Seoul, Tokyo, and Shanghai traded lower, with Hong Kong quoting higher. US markets closed mostly lower on Wednesday. Global oil benchmark Brent crude rose by 0.45% to USD 85.45 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,271.45 crore on Tuesday, exchange data showed. Stock markets were closed Wednesday for Muharram.

The BSE benchmark climbed 51.69 points to a new high of 80,716.55 on Tuesday, while the NSE Nifty rose 26.30 points to a record close of 24,613.

(With inputs from agencies.)