Markets end lower on Q4 earnings worries 

Sensex sheds 215 points to close at 3-week low of 24,685 points

Mumbai: Markets ended lower on Thursday as investors pursued asset-light strategy on muted expectation of fourth quarter results amid bearish overseas cues on Federal Reserve highlighting the risks facing the global economy.

Market benchmark Sensex tumbled to a three-week low of 24,685.42 after shedding 215 points, while NSE Nifty cracked below the 7,600-mark. Foreign investors turned neutral and started selling in small quantities led by muted expectations of fourth quarter results.

The Sensex resumed higher at 24,998.79 and hovered in a range 25,013.13 to 24,647.48 before ending at 24,685.42, showing a loss of 215.21 points or 0.86 per cent, its weakest closing since March 17. The NSE 50-share Nifty fell by 67.90 points or 0.89 per cent to close at 7,546.45.

Carmaker Maruti Suzuki slipped 3.44 per cent owing to Japanese Yen's strength against the greenback, that is likely put pressure on the firm's margins. Power equipment maker BHEL rose by nearly 5 per cent after the company commissioned an all-time high power generation capacity of over 15,000 MW and booked new orders worth Rs 43,727 crore in 2015-16, the largest in five years.

Shares of Nagarjuna Oil Refinery surged 20 per cent today as state-owned Indian Oil Corp (IOC) is looking at buying equity stake in Nagarjuna Group's Cuddalore refinery. Broader markets too saw profit-booking, dragging the BSE mid-cap and small-cap indices down by up to 0.45 per cent.

Of the 30-share Sensex pack, 18 scrips ended lower while 12 gained. Major lossers were Adani Ports (3.36 pc), Maruti (2.81 pc), HDFC (2.58 pc), L&T (2.24 pc), ITC (1.99 pc), Infosys (1.62 pc), Wipro (1.59 pc), Tata Steel (1.37 pc), HUL (1.26 pc), ICICI Bank (1.19 pc), SBI (1.01 pc), Bajaj Auto (0.92 pc) and Bharti Airtel (0.88 pc).

Among BSE sectoral and industry indices, consumer durables fell by 2.03 per cent, IT (1.18 pc), capital goods (1.18 pc), auto (1.17 pc), FMCG (1.17 pc), teck (1.13 pc), finance (0.90 pc), industrials (0.86 pc) and telecom (0.79 pc) while energy rose by 0.57 per cent, healthcare 0.57 per cent and oil&gas 0.13 per cent.

The market breadth turned negative as 1,454 shares ended lower, 1,116 closed higher while 117 ruled steady. In overseas markets, Asia witnessed a mixed trend. Key indices in China and Taiwan fell by 0.27 per cent and 1.38 per cent. European stocks were trading narrowly mixed with indices.