Indian equity benchmarks reversed the trend to end deep in the red with earlier session gains erased late on the last trading of April, dropping nearly 1 per cent and closing out the month lower.
Global stocks have gone through wild gyrations as traders grapple with the fallout from the escalating Russia-Ukraine crisis – now in its third month, demand impact of stringent lockdowns in China and stagflation risks worldwide.
The 30-share BSE Sensex index pared gains of over 300 points earlier in the session and closed the last trading of April in the red, down 460 points, or 0.8 per cent, at 57,060. For the month the index closed over 2.6 per cent lower.
The broader NSE Nifty fell 0.8 per cent to about 17,102 on Friday.
The volatility was reflected in this week’s trade moves. Indeed, on Thursday, the BSE rose 700 points to about 57,521, and the broader NSE Nifty gained 1.2 per cent to 17,245, after having fallen nearly 1 per cent in the previous session.
On Tuesday, the Sensex had jumped nearly 800 points to around 57,356, while the Nifty had risen almost 1.5 per cent to about 17,200, after both the indexes had declined over 1 per cent on Monday.