Market falls for 3rd day, Sensex down 124 points ahead of F&O expiry
Banks' NPA headache and uncertainties surrounding GST pushed the market further down
Mumbai: The benchmark Sensex today came down by 124 points and the NSE Nifty settled below 9,500 as investors hit the sell button ahead of the expiry of June derivatives.
The June contracts are set to expire tomorrow.
Banks' NPA headache and uncertainties surrounding GST pushed the market further down. Weakness in the rupee and muted global pointers did not help things either.
Falling for the third straight session, the 30-share Sensex settled the session lower by 123.93 points, or 0.40 percent, at 30,834.32 after shuttling between 31,000.48 and 30,798.70.
The barometer had lost 332.49 points in the previous two sessions on lacklustre global cues and jitters ahead of the GST rollout.
The 50-share NSE Nifty closed lower by 20.15 points, or 0.21 percent, to end at 9,491.25. During the session, it moved between 9,522.50 and 9,474.35.
The 30-share index was bogged down by RIL, Asian Paints, HDFC Ltd, ONGC and ITC.
Banking stocks continued to face selling pressure for the second straight session as the RBI asked banks to go for higher provisioning for those stressed loans referred to the insolvency court.
The top gainers on the BSE were PowerGrid, NTPC, Titan, HCL Tech, and Asian Paint. The top laggards were Larsen and Toubro, Reliance, Bajaj Finserv, IndusInd Bank, and Bajaj Finance
Equity benchmarks returned to winning ways on Thursday after two days of declines as investors snapped up financial, pharma and IT stocks amid firm Asian cues
At the closing bell, the Sensex was trading 174.29 points higher at 52,474.76, while the Nifty 50 closed at 15,799.35 after increasing 61.60 points