The market witnessed volatility on Thursday as the Nifty traded down 135.45 points or 1.6 percent at 8573.3, while the Sensex slipped 439.23 points or 1.6 percent at 27643.11.
Shares such as Infosys, ONGC, Maruti, Cipla and Hero were amongst the gainers in the Sensex while Adani Ports, HDFC, Reliance, ICICI Bank and Tata Motors were among the losers.
On the other hand, gold regained its sheen by surging Rs. 250 to 30,400 per 10 gram at the bullion market today largely on a firm global trend amid increased buying by jewellers at domestic spot market, triggered by wedding season demand.
Silver recovered on mild demand from industrial units. Analysts attributed the rebound in gold prices to a firm trend overseas and increased buying by jewellers at domestic spot market to meet the wedding season demand.
The rupee traded lower by 29 paise at 66.82 against the American currency in early trade on Thursday at the Interbank Foreign Exchange market as the dollar strengthened overseas amid a lower opening of the domestic equity market.
Forex dealers said increased demand for the US currency from importers and the greenback's gains against other currencies overseas after minutes of the Federal Reserve's last meeting pointed at an interest rate hike this year, thereby putting pressure on the rupee.
However, also in the news was state-run NHPC which got shareholders' nod to raise up to Rs. 4,500 crore through issuance of bonds on private placement basis in domestic market in the next one year.
The company will raise Rs. 4,500 crore through issuance of secured/unsecured, redeemable, non-convertible debentures/bonds aggregating up to Rs. 4,500 crore through private placement was passed by the shareholders at the 40th Annual General Meeting held on September 22, 2016, NHPC Ltd said in a BSE filing.