STOCK MARKET BSE NSE

Sensex tanks 297 points on expiry of December futures and options

It hit an intra-day low of 41,132.89. Similarly, the broader NSE Nifty closed 88 points, or 0.72 per cent, down at 12,126.55.

Published: 26th December 2019 03:57 PM  |   Last Updated: 26th December 2019 05:03 PM   |  A+A-

BSE, Sensex, NSE

Bombay Stock Exchange (Photo | EPS/ Debdutta Mitra)

By PTI

MUMBAI: Benchmark indices nursed losses for the third straight session on Thursday, led by selling in market heavyweights Reliance Industries and HDFC Bank amid expiry of December derivatives contracts.

After tumbling 328.37 points during the day, the 30-share BSE Sensex ended 297.50 points, or 0.72 per cent, lower at 41,163.76.

It hit an intra-day low of 41,132.89. Similarly, the broader NSE Nifty closed 88 points, or 0.72 per cent, down at 12,126.55.

Bharti Airtel was the top loser in the Sensex pack, dropping 2.23 per cent, followed by Reliance Industries, L&T, Sun Pharma, HDFC Bank, Maruti, Titan and Kotak Bank.

On the other hand, ONGC, NTPC, Tata Steel, Bajaj Finance and M&M rose up to 1.63 per cent. According to traders, market turned volatile on expiry of December futures and options (F&O) contracts.

Further, investor participation has also thinned on account of year-end holidays in domestic and global markets, they said.

"Market started-off on a flat note on the holiday-shortened week, however, consolidation extend on account of F&O expiry led volatility and concern over the fiscal math of the government due to possible delay in divestments planned this fiscal.

"Global markets seem to be in comfort zone fuelled by hopes of easing trade tension, while the domestic market is expected to wait for cues from the Budget," said Vinod Nair, Head of Research, Geojit Financial Services.

BSE telecom, energy, capital goods, bankex, oil and gas, teck and healthcare indices lost up to 1.73 per cent. Metal and basic materials settled up to 0.66 per cent higher. Broader BSE Midcap closed 0.13 per cent lower while the smallcap index inched up 0.38 per cent.

Bourses in Shanghai, Tokyo and Seoul ended on a positive note . On the currency front, the rupee was flat against the US dollar at 71.27 (intra-day). Brent futures, the global oil benchmark, advanced 0. 33 per cent to USD 67.42 per barrel.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp