Markets

Sensex sheds 173 points amid F&O expiry; Nifty slips below 11,700

A stock broker taking blessing from the bull at the BSE in Mumbai | File   | Photo Credit: PAUL NORONHA

Equity benchmark Sensex tumbled 173 points on Thursday, tracking losses in index majors HDFC twins, L&T and HUL as volatility persisted amid expiry of month derivatives contracts.

Lacklustre cues from global markets also kept domestic investors on the edge, traders said.

The 30-share BSE Sensex ended 172.61 points or 0.43% lower at 39,749.85. The broader NSE Nifty fell 58.80 points or 0.50% to 11,670.80.

L&T was the top laggard in the Sensex pack, dropping around 5%, followed by Titan, ONGC, Axis Bank, HUL, M&M and HDFC.

On the other hand, Asian Paints, UltraTech Cement, HCL Tech, Kotak Bank and Reliance Industries were among the gainers.

According to traders, market volatility was heightened as October futures and options contracts expired.

The Indian market opened on a subdued note following mixed global cues as coronavirus cases in the Europe surged and several countries considered re-imposing strict lockdown measures, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers.

During the afternoon session, the markets continued to trade weak with selloff in metals, auto, realty and financial stocks, he added.

Bourses in Hong Kong, Seoul and Tokyo ended on a negative note, while Shanghai was in the positive territory.

Equities in Europe were trading higher in early deals.

Meanwhile, international oil benchmark Brent crude was trading 3.15% lower at USD 38.39 per barrel.

In the forex market, the rupee continued its downward journey, sliding another 23 paise to close at 74.10 against the US dollar.

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Printable version | Nov 28, 2020 8:43:08 AM | https://www.thehindu.com/business/markets/sensex-sheds-173-points-amid-fo-expiry-nifty-slips-below-11700/article32972213.ece

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