Markets close lower amid choppy trade; Banking stocks underperform

17 Feb 2022 , 04:01 PM

Domestic equities closed lower on Thursday fell for the second straight session led by losses in banking stocks amid highly volatile trade. The Nifty declined by 0.1% as investors turned cautious weighing on geopolitical tensions between Russia and Ukraine.

The BSE Sensex dropped 105 points or 0.18 per cent to close at 57,892; while the broader Nifty 50 moved 18 points or 0.10 per cent lower to end at 17,305.

Broader markets underperformed in comparison to main indices with Nifty Midcap and SmallCap decreasing by 0.3% and 1.04% respectively.

The overall market breadth stood weak on the BSE as 1,312 shares advanced while 2,055 declined.

Most sectoral indices ended in red except Nifty FMCG (+0.3%). Nifty PSU Bank declined the most at 1.19% followed by Nifty PVT Bank (-1.18%) and Nifty Bank (-1.11%).

ICICI Bank was the top Nifty loser, followed by Axis Bank, UltraTech Cement, IndusInd Bank and UPL were also among the laggards.

Tata Consumer Products, HDFC, ONGC, Reliance Industries and HDFC Life were among the gainers.