Markets

Sensex ends marginally lower; Infosys falls over 2%

A view of the Bombay Stock Exchange building in Mumbai. File

A view of the Bombay Stock Exchange building in Mumbai. File   | Photo Credit: Paul Noronha

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BSE Sensex settled 38.44 points, or 0.10%, lower at 39,020.39; NSE Nifty too slipped 21.50 points, or 0.19%, to 11,582.60

Equity benchmarks Sensex and Nifty ended marginally lower after a volatile session on October 24, dragged by losses in IT and bank stocks, amid mixed results for the ruling BJP in State polls.

After gyrating over 486 points, the 30-share Sensex settled 38.44 points, or 0.10%, lower at 39,020.39. It hit an intra-day low of 38,840.76 and a high of 39,327.15.

The broader NSE Nifty too slipped 21.50 points, or 0.19%, to 11,582.60.

Top losers in the Sensex pack included Yes Bank, SBI and IndusInd Bank, that cracked up to 5.76%.

Shares of Infosys also ended 2.36% lower after Sebi and the U.S. Securities and Exchange Commission initiated probe following whistleblower complaints that alleged “unethical practices” by top management of the IT major.

Further, the government has asked the National Financial Reporting Authority (NFRA) to look into alleged accounting irregularities at the company.

On the other hand, Bharti Airtel, RIL, HCL Tech, Asian Paints, Tata Steel and Tata Motors, rose up to 3.31%.

The BJP-Shiv Sena alliance was on the road to power in Maharashtra while Haryana emerged a cliffhanger with no clear majority for either the BJP or the Congress, Election Commission trends indicated as votes for the assembly polls held this week were counted on Thursday.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended on a positive note, while those in Shanghai settled in the red.

Equites in Europe were trading higher in their respective early deals.

Meanwhile, the Indian rupee depreciated 11 paise to 71 against the U.S. dollar intra-day.

Brent crude futures, the global oil benchmark, fell 0.47% to $60.88 per barrel.

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Printable version | Dec 7, 2019 8:05:33 AM | https://www.thehindu.com/business/markets/sensex-ends-marginally-lower-infosys-falls-over-2/article29786402.ece

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