Markets

Sensex tanks 297 points on F&O expiry

NSE Nifty closed 88 points down.

Benchmark Sensex plunged 297 points on Thursday, led by losses in index heavyweights Reliance Industries and HDFC Bank amid expiry of December derivatives contracts.

After falling 328.37 points during the day, the 30-share BSE Sensex ended 297.50 points, or 0.72%, 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%, down at 12,126.55.

Bharti Airtel was the top loser in the Sensex pack, dropping 2.23%, 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%.

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.

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% to USD 67.42 per barrel.

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Printable version | Feb 28, 2020 1:48:17 AM | https://www.thehindu.com/business/markets/sensex-tanks-297-points-on-fo-expiry/article30402003.ece

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