Sensex Down 200 Points, Nifty Below 22,650; Paytm Jumps 5%

Benchmark stock market indicators traded lower for the fifth straight session on Thursday, influenced by declines in banking and IT shares.

Investor caution prevailed as they held back from making significant investments in anticipation of the outcome of national elections scheduled for early next week.

BSE Sensex opened 0.16 per cent or 123 points lower at 74,380.08 level, while NSE Nifty50 opened 0.19 per cent or 44 points lower at 22,660.90 levels.

On the BSE, SBI, Kotak Mahindra Bank were the top gainers while Titan and Tata Steel were among the major laggards.

Similarly, on the NSE, IndusInd Bank, BPCL were the top gainers while Tata Steel and LTIMindtree were among the top losers.

Broader markets also fell, Nifty Midcap slipped 0.09 per cent while SmallCap dropped 0.13 per cent higher.

Sectorally, the Nifty PSU Bank led with nearly 0.83 per cent gains, followed by Bank (up 0.43 per cent).

Global Cues

US markets closed lower, with Dow Jones leading the losses with a fall of over 1 per cent, while Nasdaq and S&P 500 slipped 0.58 per cent and 0.74 per cent, respectively.

In the Asia-Pacific region, markets struggled ahead of a slew of economic data releases. Japan and South Korea will release industrial production figures on Friday, with China releasing the official Purchasing Managers Index for May. Additionally, inflation data for Tokyo, Japan will also be released.

Nikkei plunged 2.31 per cent, leading the losses, while Kospi edged towards a 1 per cent decline. ASX200, meanwhile, was down 0.58 per cent.