Sensex closes 89 points down in volatile trade

Mumbai: The Indian equities markets benchmark Sensex closed 89 points down in volatile trading on Thursday due to selling pressure in banking and financial stocks.

The 30 stock S&P BSE Sensex closed 89.14 points or 0.15 per cent down at 57,595.68 points against its previous day's close at 57,684.82 points. The Sensex witnessed volatile trading during the day.

The index started the day deep in the red at 57,190.05 points. Later in the day, the Sensex turned positive. However, it again slipped in negative.

The Sensex touched a low of 57,138.51 points and a high of 57,827.99 points in the intra-day. The Sensex had lost 304.48 points or 0.53 per cent on Wednesday.

The broader Nifty 50 of the National Stock Exchange also witnessed volatile trading. The Nifty closed 22.90 points or 0.13 per at 17,222.75 points. The Nifty had lost 69.85 points or 0.4 per cent on Wednesday.

There was selling pressure in banking and financial stocks. Kotak Bank slumped 3.09 per cent to Rs 1713.40. HDFC Bank slipped 2.23 per cent to Rs 1442.70. ICICI Bank fell 1.94 per cent to Rs 704.30. HDFC slipped 1.50 per cent to Rs 2310.90.

There was strong buying support in pharma and metal stocks.

Dr Reddy's Laboratories surged 4.90 per cent to Rs 4327.45. The scrip had gained 2.31 per cent on Wednesday. Sun Pharma closed 0.79 per cent higher at Rs 907.65.