Equity benchmark indices Sensex and Nifty gave away early gains to close down by over 0.8% following a fag-end selling in Axis Bank, Reliance Industries and Infosys.

The BSE Sensex tumbled 460.19 points or 0.80% to close at 57,060.87. During the session, it reached a high of 57,975.48 and a low of 56,902.30.

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The NSE Nifty fell 142.50 points or 0.83% to 17,102.55. All the sectors ended in the red with oil & gas, bank, PSU bank, realty, capital goods and power losing 1-2%. The BSE midcap index fell 0.81% and smallcap index fell 0.58%.

Major laggards from the 30-share pack include Axis Bank down by 6.57%, Power Grid Corp down by 3.42%, Wipro down by 2.59%, SBI down by 2.08%, Maruti Suzuki down by 1.97%, Titan Company down by 1.96%, NTPC down by 1.88% and L&T down by 1.30%.

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Axis Bank stock plummeted 6.57% a day after the company posted a 49.77% rise in its consolidated net profit for the March 2022 quarter.

Among the gainers were Kotak Mahindra Bank up by 1.44%, HDFC Bank up by 0.94%, Sun Pharma up by 0.94%, Tata Steel up by 0.84% and Dr Reddy’s Labs up by 0.28%.

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The rupee rallied 18 paise to settle at 76.43 against the US dollar.

Asian market peers in Hong Kong, Shanghai and Seoul settled with sharp gains. European markets were also trading higher in the afternoon session.

US stocks had closed with significant gains on Thursday.

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International oil benchmark Brent crude soared 1.91% to USD 109.65 per barrel.

According to stock exchange data, foreign institutional investors turned net buyers after their long selling spree for the past many days, as they bought shares worth Rs 743.22 crore on Thursday.