Daijiworld Media Network- Mumbai

Mumbai, Feb 27: Indian equity indices Sensex and Nifty started Thursday’s trading session on a positive note but soon turned volatile, weighed down by foreign fund outflows, monthly derivatives expiry, and weak global market trends.

The BSE Sensex surged 231.97 points, reaching 74,834.09 in early trade, while the NSE Nifty advanced 65.75 points to 22,613.30. However, markets soon experienced fluctuations, moving between highs and lows.

Among Sensex gainers, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Axis Bank, Nestlé, and Tata Steel saw significant upticks.

Conversely, UltraTech Cement, Mahindra & Mahindra, NTPC, HCL Tech, Tech Mahindra, and Tata Motors were among the major losers in early trade.

Foreign Institutional Investors (FIIs) continued to offload equities, selling stocks worth Rs 3,529.10 crore on Tuesday, as per exchange data. Stock markets remained closed on Wednesday due to Mahashivratri.

Market analyst Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, stated that:

“Volatility will remain high as traders roll over their February F&O contracts expiring today. Concerns over tariffs and unrelenting FII selling are weighing heavily on investor sentiment, raising fears of further downside.”

However, he noted that a drop in WTI crude oil prices towards USD 69 per barrel offers some relief amid ongoing global uncertainties.

In Asian markets, Tokyo was trading higher, while Seoul, Shanghai, and Hong Kong remained under pressure.

On wall street, US markets ended on a mixed note on Wednesday.

Meanwhile, Brent crude oil prices climbed 0.33% to USD 72.77 per barrel.

On Tuesday, the Sensex gained 147.71 points (0.20%), closing at 74,602.12, while the Nifty ended its sixth consecutive session in the red, slipping 5.80 points (0.03%) to settle at 22,547.55.