A build-up in tension linked to geo-political developments gave markets the blues on Thursday as the Sensex lost 145 points at 29,643 while domestic investors sat tight ahead of start of the corporate earnings season. Industrial output data for February and retail inflation for March, slated for release after the market hours, heightened the sense of uncertainty.
After starting higher, the 30-share Sensex slipped into negative territory before settling down 144.87 points, or 0.49 per cent at 29,643.48. The gauge had bounced 213 points in the previous session. The 50-issue NSE Nifty ended lower by 33.55 points, or 0.36 per cent, at 9,203.45 after cracking below 9,200. Sentiment soured over rising military heat in the Middle East and the Korean peninsula following last week’s US strike against Syria and sabre-rattling by the US and North Korea, which pushed investors to safer assets like gold, treasuries and the yen. The rupee weakness against the dollar fed negative mood. Caution also prevailed ahead of the March quarterly earnings with IT behemoth Infosys set to unveil its numbers on Friday. “Rising geopolitical tensions continued to stoke risk aversion, with investors approaching markets with a muted stance,” said Karthikraj lakshmanan, Senior Fund Manager, Equities, BNP Paribas Mutual Fund