Market

After falling on Wednesday, equity benchmarks recovered in the initial trade but then experienced volatility.

In initial trade, the 30-share BSE Sensex rose 209.39 points and reached 60,866.84. NSE Nifty grew 59 points to 18,101.95.

But, both benchmarks became choppy later.

The Sensex was quoted at 60,623.08 points lower, but the Nifty traded at 18,048.15 points higher.

The major winners were the Sensex pack and NTPC, ITC. Hindustan Unilever. Nestle. HCL Technologies. Mahindra & Mahindra. Titan. Larsen & Toubro. State Bank of India. Asian Paints.

Bajaj Finance and Bajaj Finserv were the laggards.

Equity markets in Asia were trading in the green in Seoul, Tokyo and Shanghai.

On Wednesday, markets in the US closed in positive territory.

“The Fed minutes were clearly hawkish and stated that “restrictive policies stance” would have to be maintained until incoming data gave confidence that inflation was on an upward path to 2 percent.

“Despite these hawkish minutes, the US markets closed within the positive territory because markets expect a soft landing of the US economy as the economy continues its resilience,” stated V K Vijayakumar Chief Investment Strategist at Geojit Financial Services.

BSE benchmark fell 636.75 points, or 1.04 percent, to settle at 60.657.45 on Wednesday. Nifty settled lower at 18,042.95, or 189.60 point,

Brent crude oil, an international benchmark for oil, rose 1.03 percent to USD 78.64 a barrel.

According to exchange data, foreign institutional investors (FIIs), sold shares worth Rs 2.620.89 crore Wednesday.