Indian Stock Market ended lower in a volatile session on Thursday with Nifty slipping below 22,400. The development comes despite positive cues from industrial production and retail inflation data.

Sensex ended down 200.85 points or 0.27% at 73,828.91, and the Nifty closed 73.30 points or 0.33% at 22,397.20.

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Throughout the day, Nifty reached a high of 22,558.05 and a low of 22,377.35 while Sensex fluctuated between 74,401.11 and 73,770.59.

BSE Midcap and smallcap indices shed 0.7% each.

Investors lost nearly ₹2 lakh crore in a single session as the overall market capitalisation of BSE-listed firms dropped to nearly ₹391 lakh crore from ₹393 lakh crore in the previous session.

Among the sectors, most indices ended with losses as Nifty Realty was down 1.83%, Media was down by 1.50% and Auto down by 1.10%.

Nifty Bank ended flat, while the PSU Bank index rose 0.43% while the Private Bank index slipped 0.14%.

Shares of IndusInd Bank fell about 2%, even as CLSA maintained an ‘Outperform’ rating on the stock. CLSA, meanwhile, cut its target price to Rs 900 from Rs 1,300 earlier.

IT stocks remained under stress with Nifty IT entering the bear territory tumbling over 21% from its peak. Major IT players, including Wipro, Infosys, HCLTech, and Tech Mahindra, saw a percent decline during the day.

On the Nifty index, the gainers were Bharat Electronics (1.17%), State Bank Of India (0.66%), NTPC (0.53%), Cipla (0.52%), and ICICI Bank (0.49%).

While on the losing side were Hero Motocorp (2.25%), Tata Motors (1.92%), Hindalco Industries (1.81%), IndusInd Bank (1.80%), and HDFC Life Insurance Company (1.80%).

On BSE, over 300 stocks touched 52-week low. These included Sterling Wilson, G R Infra, Balaji Amines, Route Mobile, IDFC First Bank, Astral, Nuvoco Vistas, Dalmia Bharat, KNR Construction, Birlasoft, Trident, Tata Elxsi, Relaxo Footwear, Tata Technologies, Shoppers Stop, LTIMindtree, Angel One, Galaxy Surfactants, Esab India, TTK Prestige, among others.

PB Fintech’s shares continued to trade low, at nearly 10 percent fall, for the second straight session, still bearing the impact of its proposal to infuse Rs 696 crore in the healthcare arm. HDFC AMC share price also fell for another 3% during the day.

Asian markets reversed initial gains and declined as concerns over the economic impact of US President Donald Trump’s trade policies outweighed optimism.

US equity markets closed mostly higher after lower-than-expected inflation data bolstered expectations of a Federal Reserve interest rate cut.