Live Market Updates: Sensex volatile; Europe opens in red

The benchmark index BSE Sensex lost nearly 180 points from the day’s high. It has been a topsy-turvy ride for the index today. Heavyweights like Bharti Airtel, ICICI Bank, Axis Bank which were battered this week have held the index in green.

The Sensex was down 27.56 points or 0.15% at 18856.63, and the Nifty was down 11.25 points or 0.20% at 5683.15. About 987 shares advanced, 1688 shares declined, and 876 shares remain unchanged. Live Quotes  

European shares and the euro dipped on Thursday because of concerns over Cyprus but a pick-up in Chinese factory activity and the US Federal Reserve's commitment to its loose policy stance limited the losses. Live Quotes

Bharti Airtel, India's largest telecom operator witnessed heavy buying on Thursday, rising 7 percent after seeing fall in previous five consecutive sessions.

Tata Motors fell as much as 5.6 percent on worries that China's new stringent fuel economy standard would adversely impact the Indian auto maker's Jaguar Land Rover Ltd (JLR) unit.

The rules announced on Wednesday would cut passenger cars' average fuel consumption to 6.9 litres per 100 kilometres by 2015 and to 5.0 litres by 2020 in China.

ICICI Bank gain 4.3 percent, heading towards its biggest single-day gain since November 29, 2012, on value buying after steep recent falls over allegations of money laundering by a local journalist.

Traders say the gap between ICICI Bank's local shares and American Depositary Receipt (ADR) has significantly increased, making a good risk-reward for buying the local stock.

Bajaj Auto, Tata Power, Maruti Suzuki and HDFC Bank were major losers.

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