Markets

Sensex snaps 4-session winning run, ends 149 points lower

Snapping its four-session rising streak, equity benchmark Sensex ended 149 points lower on Thursday, tracking losses in index majors Reliance Industries, Infosys and ICICI Bank amid weak cues from global markets.

The 30-share BSE index settled 148.82 points or 0.37% lower at 40,558.49. The broader NSE Nifty slipped 41.20 points or 0.35% to 11,896.45.

IndusInd Bank was the top laggard in the Sensex pack, shedding around 3%, followed by ICICI Bank, Titan, Infosys, HDFC Bank, Nestle India, Sun Pharma and Reliance Industries.

On the other hand, NTPC, Bharti Airtel, Bajaj Finance and Axis Bank were among the gainers.

“Indian markets traded on a negative note following benign Asian and global market cues as IMF on Wednesday downgraded its forecast for Asia-Pacific region to (-) 2.2% in 2020,” said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

During the afternoon session, markets attempted briefly to scale back losses but failed and remained lacklustre with narrow range, he added.

On the global front, bourses in Shanghai, Tokyo and Seoul ended in the red, while Hong Kong settled on a positive note.

Stock exchanges in Europe were also trading with losses in early deals.

Meanwhile, international oil benchmark Brent crude was trading 0.22% higher at USD 41.82 per barrel.

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Printable version | Nov 26, 2020 3:46:27 PM | https://www.thehindu.com/business/markets/sensex-snaps-4-session-winning-run-ends-149-points-lower/article32917689.ece

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