Markets surrender early gains to trade lower; Sensex quotes 118 points lower

The 30-share BSE Sensex climbed 126.36 points to 72,769.79 in early trade after a weak beginning to the trade. The NSE Nifty went up 20.65 points to 22,044.

Benchmark equity indices faced volatile trends in early trade on March 18, surrendering their initial gains to trade lower, following a weak lead from Wall Street and rising crude oil prices.

The 30-share BSE Sensex climbed 126.36 points to 72,769.79 in early trade after a weak beginning to the trade. The NSE Nifty went up 20.65 points to 22,044.

However, later both the benchmark equity indices pared early gains and slipped in the red. The 30-share BSE quoted 118.03 points lower at 72,525.40, and the Nifty went lower 56.70 points to 21,953.70.

From the Sensex basket, Mahindra & Mahindra, Tata Steel, JSW Steel, Axis Bank, Tata Motors and HCL Technologies were the gainers. Asian Paints, Power Grid, Titan and Maruti were among the laggards.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading higher. The U.S. markets ended lower on March 15.

Foreign Institutional Investors (FIIs) bought equities worth ₹848.56 crore on Friday, according to exchange data.