Markets on roller-coaster trip

Mumbai: Benchmark BSE Sensex on Tuesday reversed its intra-day gains to fold by 100 factors as a result of fag-end marketing in FMCG, financial as well as IT supplies amidst a weak opening in European securities market.

The 30-share BSE index decreased by 100.42 factors or 0.19 percent to clear up at 53,134.35 factors. The index opened up higher as well as later on leapt 631.16 factors or 1.18 percent to touch the day’s high of 53,865.93 after purchasing in financial, steels, power as well as pharma shares improved by gains in many Asian markets.

However, the measure slowed in the pre-close session as a result of offering in IT, FMCG as well as pick financial counters as European securities market opened up with losses on economic crisis worries. The wider NSE Nifty additionally removed its intra-day gains as well as dipped 24.50 factors or 0.15 percent to shut at 15,810.85.

“The current trend in the global market indicates that uncertainties around recession and tightening monetary policy continue to haunt investors’ confidence. Dollar index opened sharply high affecting the performance of emerging currencies, depreciating INR,” claimed Vinod Nair, head (research study) atGeojit Financial Services

“It was a roller-coaster ride for markets as the Nifty swung volatile in a broader range and finally settled around the day’s low. The decline in the index can be attributed to the uncertain global markets and caution ahead of the earnings season,” claimed Ajit Mishra, V-P (research study), Religare Broking Ltd.