Sensex Ends Volatile Session Lower; ONGC, Coal India Swing Most on Nifty

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Sensex Ends Volatile Session Lower; ONGC, Coal India Swing Most on Nifty

By Malvika Gurung

Investing.com -- Indian equity benchmark indices ended a volatile session lower on Friday, extending losses to the third consecutive session, led by sell-offs in some IT, top auto, and pharma shares.

Domestic equities opened lower today, mirroring weakness in the overnight sell-off on Wall Street post the release of the US Federal Reserve’s minutes, along with investors cautious of the continued tension between Russia and Ukraine.

Indices Nifty 50 and Sensex ended 0.16% and 0.1% lower, respectively on Friday, as select bank and financial stocks provided some support to the market.

Broader indices ended lower, underperforming the headline indices, as Nifty Midcap declined 0.91% and Nifty Smallcap plunged 1.06%.

Market analysts believe volatility to pertain in markets until there is some clarity on the uncertainty around the Russia-Ukraine tension.

The VP of Religare Broking expects the tension to diffuse soon and any favourable development over the weekend could lead to a strong start next week.

Reports of the US Secretary of State agreeing to meet with the Russian counterpart next week to ease the geopolitical tension helped the market pare early losses in the afternoon session today, followed by late sell-offs on Dalal Street.

On the sectoral indices side, Nifty Bank , Nifty Financial Services and Nifty Private Bank were the only (sectoral) indices on the Nifty basket to end higher today. Nifty Bank ended 0.18% higher.

Coal India (NS: COAL ), SBI Life Insurance (NS: SBIL ), Bajaj Auto (NS: BAJA ) and HDFC (NS: HDFC ) were the top gainers on Nifty, up 1-2.6%, while ONGC (NS: ONGC ), Divi's Laboratories (NS: DIVI ), Cipla (NS: CIPL ) and UltraTech Cement (NS: ULTC ) were the top losers, down 2-2.2%.

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