BENGALURU: Indian shares ended at four-week lows on Thursday, reversing intraday gains, as volatility spiked ahead of key quarterly earnings and the start of the country’s general elections.

The NSE Nifty 50 fell 0.69% to 21,995.85, while the S&P BSE Sensex shed 0.62% to 72,488.99 at close. The benchmarks rose as much as 0.8% during the session, but gave up gains in the final two hours of trade to close at four-week lows.

The indexes have dropped more than 3% in the four sessions since hitting record closing highs on April 10, marking their longest losing streak in about six months.

“Volatility is likely to rise further and remain elevated, as quarterly earnings season and national elections get underway,” Ajit Banerjee, chief investment officer of Shriram Life Insurance said.

“Domestic equities are not immune from the impact of geopolitical concerns or US rate outlook.” India’s Nifty volatility index rose to 13.04 on the day, highest since March 20.