Mumbai: Benchmark indices Sensex and Nifty closed lower in a highly volatile trade on Thursday amid relentless foreign fund outflows and selling in blue-chip ICICI Bank.

Falling for the second day in a row, the 30-share BSE Sensex declined 148.14 points or 0.18 per cent to settle at 83,311.01. During the day, it hit a high of 83,846.35 and a low of 83,237.65.

The 50-share NSE Nifty dipped by 87.95 points or 0.34 per cent to 25,509.70.

Among Sensex firms, Power Grid, Eternal, Bharat Electronics, Bajaj Finance, ICICI Bank and NTPC were the major laggards.

However, Asian Paints, Reliance Industries, Mahindra & Mahindra and UltraTech Cement were among the gainers.

Stock markets were closed on Wednesday for Guru Nanak Jayanti.

Foreign Institutional Investors (FIIs) offloaded equities wort

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