Markets

Sensex drops over 100 points amid thin global trade

A view of the BSE building in Mumbai. | File

A view of the BSE building in Mumbai. | File   | Photo Credit: Paul Noronha

NSE Nifty slipped 28.10 points or 0.23% to 12,227.75

Equity benchmark BSE Sensex tumbled over 100 points in opening session on December 31 tracking weak global cues as year-end holidays thinned trading across markets.

The 30-share BSE index fell 108.21 points or 0.26% to 41,449.79, and the broader NSE Nifty slipped 28.10 points or 0.23% to 12,227.75.

Tech Mahindra was the top loser in the Sensex pack, dropping up to 1.51%, followed by Hero MotoCorp, IndusInd Bank, Mahindra and Mahindra, ICICI Bank and HDFC twins. On the other hand, Axis Bank was the top gainer, rising up to 0.42%. Sun Pharma, Ultratech Cement, HUL, ITC and SBI were also trading in the green.

In the previous session, the 30-share gauge ended 17.14 points, or 0.04%, lower at 41,558. The Nifty, however, closed 10.05 points, or 0.08%, higher at 12,255.85.

Meanwhile, on a net basis, foreign institutional investors sold equities worth ₹130.52 crore, while domestic institutional investors purchased shares worth ₹201.32 crore on Monday, data available with stock exchange showed.

According to experts, domestic stock market remained lacklustre as 2019 is coming to an end amid muted activity worldwide amid year-end holidays.

Bourses in Shanghai and Hong Kong were trading on a negative note in their respective early sessions, while those in Tokyo and Seoul remained closed. Stocks on Wall Street ended lower on Monday. Brent futures, the global oil benchmark, slipped 0.07% to $66.62 per barrel.

Meanwhile, the Rupee appreciated 4 paise to 71.27 against the U.S. dollar in morning session.

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Printable version | Feb 28, 2020 9:10:33 AM | https://www.thehindu.com/business/markets/sensex-drops-over-100-points-amid-thin-global-trade/article30440420.ece

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