Equity markets settle with marginal gains in highly volatile trade

Market benchmark indices Sensex and Nifty ended with marginal gains on April 20 after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks.

Market benchmark indices Sensex and Nifty ended with marginal gains on April 20 after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks.

“Investors remained cautious amid renewed foreign fund outflows and prevailing risk-off sentiments,” traders said.

In a highly volatile trade, the 30-share BSE Sensex climbed 64.55 points or 0.11% to settle at 59,632.35. During the day, it hit a high of 59,836.79 and a low of 59,489.98. The broader NSE Nifty went up by 5.70 points or 0.03% to finish at 17,624.45.

Among the Sensex firms, Asian Paints, NTPC, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Wipro, Tech Mahindra, Tata Consultancy Services, ITC, HDFC Bank and Maruti were the biggest winners.

Hindustan Unilever, Infosys, UltraTech Cement, Bajaj Finance, Nestle, Axis Bank, Reliance Industries and HDFC were among the laggards.

In Asian markets, Japan and Hong Kong settled in the positive territory, while Seoul and Shanghai ended lower. European markets were trading in the negative zone. The U.S. markets had ended mostly lower on Wednesday.

"The ongoing Q4 earnings is the focus area of the market. It has a negative bias due to lower-than-anticipated initial results announced, especially in the IT sector. The global market has been unsupportive due to expectation of another rate hike and mixed earnings released in the U.S.