India’s stock market benchmark ended volatile on Friday, little changed as losses in oil and gas and IT stocks offset gains in financials and FMCG stocks. Globally, stocks were mixed as concerns remained about a sharp rise in interest rates and the strength of the world economy in the COVID-19 era.

The Sensex rotates in a range of 550 points during the session. The Nifty50 moved broadly within the 17,450-17,650 area before closing within three points of the previous close. A total of 35 stocks in the Nifty50 basket closed below the flat line. Bharat Petroleum, Shree Cement, Hindalco, Hero MotoCorp and ONGC are the biggest laggards.

UPL, Maruti Suzuki, Reliance, Tata Motors and Bajaj Auto – all down about 1% – were also the hardest-hit blue chips. On the other hand, ITC, Adani Ports, HDFC, Larsen & Toubro and Kotak Mahindra Bank were the top gainers.

“The surge in the US dollar index and rising US bond yields may reflect heightened volatility in domestic markets in the near term,” said Vinod Nair, head of research at Geojit Financial Services. Maruti Suzuki, Tata Motors, Hero MotoCorp and Bajaj Auto fell about 1-2%, while Mahindra & Mahindra, Eicher Motors, TVS Motor and Escorts rose 0.2% to 2.5%, reflecting mixed monthly growth among automakers.

Adani Enterprises’ share rose 3.8% on news that the stock will be included in the Nifty50 from September 30. Shree Cement fell 2.4%. The cement manufacturer’s inventory will be removed from the Nifty50 basket.

ONGC shares remained under pressure amid falling crude oil prices as investors awaited the outcome of the OPEC+ meeting of the largest group of producers. Overall, market breadth was slightly skewed in favour of bulls, with 1,767 BSE stocks advancing and 1,659 declining. Following the Asian mix trend, the European market is off to a green day. The pan-European Stoxx 600 was last up 0.5%. S&P 500 futures fell 0.2%, signalling a weak start on Wall Street.