Sensex closing: Index ends 137 points lower despite better-than-expected GDP data

Benchmark indices, BSE Sensex and NSE’s Nifty 50, ended lower today for the third successive session following losses in global equity markets, offsetting better-than-expected gross domestic product (GDP) data, which expanded 7.2% in the third quarter of 2017-18.

The broader Nifty closed below 10,500 for the eighth time in 10 sessions, ending 0.33 percent lower at 10,458.35. It was down 0.38 percent for the week, a fourth weekly loss in five. The benchmark Sensex, however, closed down 0.40 percent at 34,046.94. The index fell 0.28 percent in the week.

Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases. Select auto stocks, however, were in some demand on the back of encouraging February sales numbers.

Share markets will be closed on Friday due to a public holiday.

Shares in US and Asia reportedly fell as traders are cautious ahead of Federal Reserve chair Jerome Powell appearance before senate banking committee following hits hawkish comments on Tuesday.

During the afternoon trade session, the key Indian equity market indices remained subdued on the back of weak global cues and outflow of foreign funds.

At 1.05 pm, the barometer 30-scrip Sensitive Index (Sensex) of the BSE traded at 34,165.30 points -- down 18.74 points, or 0.05 per cent, from its previous close of 34,184.04 points.

Similarly, the wider Nifty50 of the National Stock Exchange (NSE) edged lower during the trade session. It receded by 1.55 points, or 0.01 per cent, to close at 10,494.40 points.

In the intra-day so far, the S&P BSE Sensex touched a high of 34,278.63 points and a low of 34,080.61 points.

(With inputs from agencies)