Equity gauges end higher amid volatility, PSU banks drag

Equity benchmark indices witnessed profit taking in the last hour of trade on Thursday but closed mildly higher after a volatile session.

At the closing bell, the BSE S&P Sensex was up by 123 points or 0.23 per cent at 54,493 while the Nifty 50 ticked higher by 36 points or 0.22 per cent to 16,295.

Sectoral indices were mixed with Nifty metal up by 1.3 per cent, IT by 0.7 per cent and FMCG by 0.6 per cent. But Nifty PSU bank slumped by 2.2 per cent, realty by 1 per cent and financial service by 0.3 per cent.

Among stocks, Bharti Airtel rose by 3.8 per cent to Rs 596.60 per share while Eicher Motors gained by 3.4 per cent to close at Rs 2,732.90.

ITC was up by 3 per cent, Tata Steel by 2.3 per cent, JSW Steel by 2.2 per cent and Reliance Industries by 1.3 per cent. HCL Technologies, HDFC Bank, Kotak Mahindra Bank, Britannia and Cipla too traded in the green.

However, State Bank of India crashed by 3.2 per cent to wind up the day at Rs 441.95 per share. The other laggards included IndusInd Bank, ICICI Bank, Bajaj Finance, Bajaj Finserv, Grasim and Asian Paints.

Meanwhile, Asian shares held on to recent gains. Japan's Nikkei climbed 0.52 per cent on positive corporate earnings.South Korean stocks ended 0.13 per cent lower on virus concerns while Hong Kong's Hang Seng index dropped 0.84 per cent on tech regulatory worries.

( With inputs from ANI )