Sensex, Nifty close negative; OMCs gain

The market closed negative and remained volatile in trade on Thursday with the BSE Sensex closing at 35,426 points and the NSE Nifty closing at 10,742 points. The market remained rangebound as the global trade war concerns persisted. The oil marketing companies gained more than two percent in trade after brent crude slipped two percent ahead o the OPEC meet outcome. M&M, Dr Reddy's Labs, Bharti Infratel, Hindalco and Titan Company were the top Nifty losers while the OMCs, ICICI Bank, Reliance and Bajaj Finserv were the top Nifty gainers.

 

The market is rangebound with the BSE Sensex trading at 35,512 points and the NSE Nifty trading at 10,758 points.

The market remained in check as the global trade war fears continued on Thursday. Minutes before the opening, India announced the imposition of retaliatory tariffs on some US imports after the US said it will impose import tariffs on welded pipes.

Adani Ports, ICICI Bank, Tech Mahindra, Reliance and Zee Entertainment were the top Nifty gainers while Dr Reddy's Labs, Power Grid Corp, GAIL, HPCL and ONGC were the top Nifty losers.

The Interglobe Aviation stock was reversing its losses from the previous session to gain more than three percent after it clarified that the management was not summoned by the Enforcement Directorate on the FEMA violations.

The market on Thursday opened largely higher with the BSE Sensex at 35,604 points and the NSE Nifty at 10,806 points as the global markets largely recovered from the US and China trade spat.