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Trades in the stock markets were extremely volatile on Thursday, with the Sensex opening with gains of over 250 points, before slipping in the red. At one point, the Sensex plunged 300 points, but staged a recovery in the late session, as the wholesale price index for April came in at (-2.65 per cent) - a sixth straight month of decline - strengthening hopes of an interest rate cut by the RBI.
The WPI data came on the back of weak IIP and CPI inflation data.
The volatility in benchmark indices mirrored weakness in the European peers as investors remain edgy regarding the tightness in liquidity as bond prices are falling and, consequently, yields are rising.
The cloud over local equities linger on worries over disappointing quarterly results, controversial MAT levy and delay in passage of key bills like GST and land acquisition, besides, of course, the subdued monsoon forecast.
Sensex @ 27,206.06, down 45 points;
Nifty @ 8,224.2, down 11 points.
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